HDFC to raise up to Rs 10,000 cr next week via bonds

The bonds, rated AAA by Crisil and ICRA, carry coupon rate of 7.05% per annum

Press Trust of India New Delhi

Photo: Bloomberg

Housing Development Finance Corporation (HDFC) Ltd on Thursday said it will raise up to Rs 10,000 crore by issuing bonds on private placement basis to augment its long-term capital.

The country's largest mortgage lender said that it will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and option to retain over-subscription of up to Rs 8,000 crore.

"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," HDFC said in a regulatory filing.

The bonds, rated AAA by Crisil and ICRA, carry coupon rate of 7.05 per cent per annum.

The 10-year tenure bonds will be open for subscription to the eligible investors on November 29 and closes on the same date.

HDFC shares closed 0.33 per cent down at Rs 2,870.95 apiece on BSE.

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(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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Topics : HDFC

First Published: Nov 25 2021 | 8:42 PM IST

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