HDFC To Bump Up Rs 12,000 Cr Next Week
The secured redeemable Non-Convertible Debentures (NCDs) to be issued will carry a coupon rate of 8.07 per cent per annum for a period of 10 years
Housing Development Finance Corporation (HDFC Ltd) in the coming week will raise up to Rs 12,000 crore by issuing bonds through private placement.
The base size of issue is Rs 1,000 crore and it will give an option to retain over subscription of up to Rs 11,000 crore, said HDFC during regulatory filing on 8 October.
The secured redeemable Non-Convertible Debentures (NCDs) to be issued will carry a coupon rate of 8.07 per cent per annum for a period of 10 years.
“The objective behind such issue is to augment the long-term resources of the corporation. The proceeds would be utilised for financing /refinancing the housing finance business requirements of the corporation,” said the bank.
On 11 October the issue will be opened and it will close the same day. Issue being part of company’s Shelf Placement Memorandum “AA-series” is aggregating to Rs 75,000 crore. And mortgage lender’s board approved it in November 2021.