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HDFC Ltd is going to raise Rs 775 crore through issuing bonds on a private placement basis as part of arranging long term capital.
HDFC said in a regulatory filing that the object of the issue is to augment long term resources of the Corporation.
It added that “The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation.”
The secured redeemable non-convertible debentures that offers 7.28 percent coupon rate are set to mature on March 25, 2019.
