HDFC announces its first Synthetic INR Notes issuance

Aggregating Rs 2000 crore

Housing Development Finance Corporation announced its first unrated Synthetic INR Notes issuance of Rs 2000 crore with an option to retain oversubscription of upto Rs 1000 crore. HDFC is the first Indian public issuer of Synthetic INR Notes. The Synthetic INR Notes are in the nature of 'Rupee Denominated Bonds'. The Bonds will bear a fixed coupon and will have a tenor of 3 years and 1 month. The Bonds are proposed to be listed on the London Stock Exchange.

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