Tata Housing Finance to raise Rs 2,000 crore via non-convertible debentures

Tata Housing Finance has said it will raise Rs 2,000 crore via public placement of non-convertible debentures (NCDs) with coupon rates ranging from 7.92 per cent to 8.70 per cent. 

The base size of the issue is Rs 500 crore with an option to retain oversubscription up to Rs 1,500 crore. 

The issue is scheduled to open on January 7 and is supposed to close on January 17 with an option of early closure. 

At least 75 per cent of the net proceeds of the NCDs will be used for the purpose of onward lending, financing, and for repayment / prepayment of interest and principal of existing borrowings of the company.