Tata Capital Housing Finance plans to raise 2,000 crore via NCDs
Tata Capital Housing Finance, a subsidiary of Tata Capital, on Thursday said it is looking to raise up to Rs 2,000 crore through non-convertible debentures. The base size of the issue is Rs 500 crore with an option to retain oversubscription up to Rs 1,500 crore, the company said. There are four
Published -
Jan 3, 2020 3:44 AM
Tata Capital Housing Finance, a subsidiary of Tata Capital, on Thursday said it is looking to raise up to Rs 2,000 crore through non-convertible debentures. The base size of the issue is Rs 500 crore with an option to retain oversubscription up to Rs 1,500 crore, the company said. There are four bonds maturing in three, five, eight and 10 years with monthly and annual interest payment options. The coupons offered by the company are in the range of 7.92-8.70 per cent under various interest payment options. It will use the funds raised for onward lending, financing and repayment /prepayment of existing borrowings. The issue will open for subscription on January 7 and is scheduled to close on January 17. The bonds have been rated AAA by Crisil and Icra. The lead managers to the issue are AK Capital and Edelweiss Financial Services. The housing finance company offers long-term funds for housing purposes.
Tags : News/Views