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HDFC raises Rs 5 billion by issuing masala bonds; stock up by 0.57%

It will offer a coupon of 8.75 per cent per annum payable semi-annually for tenor of 5 years and one day

Press Trust of India 

rupee
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said on Monday that it has issued under its medium-term note (MTN) programme and raised Rs 5 billion. The rupee denominated bonds (RDBs), popularly known as masala bonds, are issued under the MTN programme, it said in a regulatory filing. The corporation has closed the said issue Monday with the issue size of Rs 5 billion," said.
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It will offer a coupon of 8.75 per cent per annum payable semi-annually for tenor of 5 years and 1 day. The bonds are unrated and will be listed on the LSE's (ISM), it said. are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk. Stock of closed 0.57 per cent up at Rs 1,898.35 apiece on the BSE.

First Published: Tue, November 20 2018. 01:44 IST
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