Mortgage lender HDFC Ltd on Wednesday said it will raise up to Rs 5,000 crore by issuing non convertible debentures (NCDs) on a private placement basis.
The issue will open on March 5, 2021 and close the same day, HDFC said in a regulatory filing.
The base size of the issue of secured redeemable NCDs is Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore, it added.
"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," it said.
The coupon rate on the bonds, set to mature on March 8, 2023, is fixed at 5.30 per cent per annum. The arranger of the issue is ICICI Bank.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
