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HDFC raises Rs 1,300cr via masala bonds

Press Trust of India  |  New Delhi 

Mortgage lender has raised Rs 1,300 crore from World Bank-arm IFC through an issue of masala bonds, the specialised debt instruments that are meant to be issued overseas only.

Earlier this month, Housing Development Corporation (HDFC) had said it will issue rupee-denominated bonds under the medium term note programme to International Corporation (IFC),

"The Corporation has closed the said issue today of the issue size of Rs 1,300 crore," it said in a regulatory filing.

will offer a coupon rate of 6.73 per cent payable semi-annually on these masala bonds. The bonds are set to mature on November 25, 2022 (5 years 9 days).

The bonds are unrated and will be listed on the Stock Exchange, it added.

stock closed 0.51 per cent down at Rs 1662.65 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 21:22 IST