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Business Companies 11 Jul 2019 HDFC to raise up to ...

HDFC to raise up to Rs 3,000 cr via bonds to augment long-term capital

PTI
Published Jul 11, 2019, 12:08 pm IST
Updated Jul 11, 2019, 12:08 pm IST
The proceeds of the issue would be utilised for financing or refinancing the housing finance business, HDFC said.
 'HDFC Series V-006 11th July, 2014' secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore. (Photo: File | PTI)
  'HDFC Series V-006 11th July, 2014' secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore. (Photo: File | PTI)

New Delhi: HDFC Ltd will raise up to Rs 3,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs.

The 'HDFC Series V-006 11th July, 2014' secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore, HDFC said in a regulatory filing.

 

"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 or refinancing the housing finance business requirements of corporation," it said.

The coupon rate on the bonds is 7.99 per cent per annum payable annually.

The issue opened on Wednesday and closed the same day.

The mortgage lender said the date of allotment of the bonds is July 11, 2019.

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Location: India, Delhi, New Delhi


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