Moneycontrol
May 17, 2017 07:23 PM IST | Source: PTI

HDFC to raise Rs 500 cr through NCDs

Mortgage lender HDFC Ltd today said it proposes to raise Rs 500 crore through non-convertible debentures (NCDs) to fund business growth.

HDFC to raise Rs 500 cr through NCDs

Mortgage lender HDFC Ltd today said it proposes to raise Rs 500 crore through non-convertible debentures (NCDs) to fund business growth.

The bonds, in nature of secured redeemable non- convertible debentures, will bear coupon rate of 7.67 per cent per annum.

"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/refinancing the housing finance business requirements of the Corporation," HDFC said in a regulatory filing.

The tenor of the bonds is three years.

The issue to be opened on May 19 would be listed on the BSE and NSE.
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