HDFC to raise up to Rs 7,500 cr by issuing bonds next week
Apr 3, 2020, 22:05 IST
New Delhi, Apr 3 () 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.
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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.
The NCDs with a coupon rate of 7.20 per cent 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 per cent from the previous close, on the BSE. KPM HRS(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)