 "HDFC to raise Rs 10,000 cr via non-convertible debentures, tenure of 10 yrs")
Mortgage lender HDFC on Monday said it will raise Rs 10,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis to shore up its resources.
These unsecured NCDs have a tenure of 10 years, and the coupon rate will be decided on the electronic bidding platform, HDFC said in a regulatory filing.
The object of the issue is to augment the long-term resources of the corporation, it said.
The proceeds of the issue would be utilised for financing/refinancing the housing finance business requirements, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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