Housing Development Finance Corporation Ltd said it will elevate up to Rs. 3,000 crore by issuing bonds on private placements to enlarge its long term capital resources, on Monday.
In a regulatory filing, it said, the secured and redeemable non-convertible debentures (NCDs) with an issue size of Rs. 2,000 crore has an option to retain oversubscription up to Rs. 3,000. The coupon rate of the bonds is fixed at 8.55 per cent with the reclamation date of March 27, 2029.
It further added, “The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilized for financing/ refinancing the housing finance business requirements of the Corporation.” HDFC’s stocks closed at Rs. 1,945.75 on the BSE, down 1.95 per cent from the earlier close.
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