HDFC To Raise Up To Rs 3,000 Crore Via Bonds
Housing Development Finance Corporation Ltd. will raise up to Rs 3,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs.
The 'HDFC Series V-006 11th July, 2014' secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore, HDFC said in a regulatory filing.
"The object of the issue is to augment the long-term resources of the corporation. The proceeds of the present issue would be utilised for financing or refinancing the housing finance business requirements of corporation," it said.
The coupon rate on the HDFC bonds is 7.99 percent per annum payable annually.
The HDFC bond issue opened on Wednesday and closed the same day. The allotment date is July 11, 2019.