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HDFC prices its biggest ever rupee bond issuance; to raise Rs 25,000 crore

HDFC is stepping up borrowing from notes because its merger with HDFC Bank Ltd. will make accessing the bond market more difficult

Photo: Bloomberg
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Photo: Bloomberg

Divya Patil | Bloomberg
Housing Development Finance Corp. priced its biggest ever rupee bond issuance ahead of a merger with its banking unit, which will create an Indian financial services behemoth valued at more than $200 billion. 

India’s largest mortgage lender will raise Rs 25000 crore ($3 billion) selling notes due in a decade at a coupon of 7.97% on Friday, according to people familiar with the matter. The proceeds will be used to support its housing finance business, said the people, who asked not to be identified discussing confidential information.

HDFC is stepping up borrowing from notes because its merger with HDFC Bank

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First Published: Feb 16 2023 | 12:02 PM IST

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