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Last Updated : Apr 03, 2020 10:34 PM IST | Source: PTI

HDFC to raise up to Rs 7,500cr by issuing bonds next week

The object of the issue is to augment the long-term resources of the lender, it said in a regulatory filing.

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Mortgage lender HDFC Ltd will raise up to Rs 7,500 crore by issuing bonds on a private placement basis, the company said on Friday. The base issue size of non-convertible debentures (NCDs) is Rs 2,500 crore with the green shoe option of Rs 5,000 crore.

The object of the issue is to augment the long-term resources of the lender, it said in a regulatory filing.

"The proceeds of the present issue would be utilised for financing/ refinancing the housing finance business requirements of the corporation," it added.

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The NCDs with a coupon rate of 7.20 percent will be open for offer on April 8 to the designated persons or entities.

Shares of HDFC Ltd on Friday closed at Rs 813.50 apiece, down 1.95 percent from the previous close, on the BSE.

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First Published on Apr 3, 2020 10:25 pm
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