HDFC to raise Rs 200 crore via bonds
Mortgage lender HDFC Ltd will raise Rs 2,000 crore through a private placement basis by issuing bonds to shore up long term capital. HDFC Ltd, which is the largest mortgage lender in the country, said it will issue secured redeemable non-convertible debentures on a private placement basis to raise a total of Rs 2,000 crore. The issue will open on Thursday and close on the same day. "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 in a regulatory filing. The bonds carrying coupon rate of 7.60 per cent are set to mature in June 2020. HDFC said only the persons who are specifically addressed through a communication are eligible to apply for the debentures. No other persons can apply, it stated.
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