HDFC to lift Rs 2,000 crore via bonds - watsupptoday.com
HDFC to lift Rs 2,000 crore via bonds
Posted 01 Aug 2017 10:48 AM

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Agencies
Mortgage lender HDFC Ltd will raise ₹ 2,000 crore through a private placement basis by issuing bonds to shore up long term capital.
HDFC Ltd, which is the largest mortgage lender in the country, said it will issue secured redeemable non-convertible debentures on a private placement basis to raise a total of ₹ 2,000 crore.
The issue will open on Thursday and close on the same day.
“The object of the issue is to augment the long-term facility of the corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation,” it said in a regulatory filing.
The bonds carrying coupon rate of 7.60 % are set to mature in June 2020.
HDFC said only the persons who are specifically addressed through a communication are eligible to apply for the debentures. No other persons can apply, it stated.
Stock of the company on Tuesday closed 0.37 % down at ₹1,600.05 apiece on BSE.

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