HDFC to raise up to Rs 10,000 cr next week via bonds

Housing Development Finance Corporation (HDFC) Ltd on 23rd November 2021 said it will raise up to Rs 10,000 crore by issuing bonds on a private placement basis to augment its long-term capital.

The country's largest mortgage lender said that it will issue secured redeemable non-convertible debentures (NCDs) on a private placement basis with an issue size of Rs 2,000 crore and the option to retain over-subscription of up to Rs 8,000 crore.

The bonds, rated AAA by Crisil and ICRA, carry a coupon rate of 7.05 percent per annum.The 10-year tenure bonds will be open for subscription to the eligible investors on November 29 and close on the same date.

The 10-year tenure bonds will be open for subscription to the eligible investors on November 29 and close on the same date.

HDFC shares closed 0.33 percent down at Rs 2,870.95 apiece on BSE.

Source: Business Standard