HDFC to raise up to Rs 2,000 crore by issuing bonds

The secured redeemable NCDs for an issue size of Rs 2,000 crore will be open for bid on June 14 and closes on the same day, HDFC said

HDFC to raise up to Rs 2,000 crore by issuing bonds
Housing Development Finance Corporation (HDFC) on Wednesday reduced its Retail Prime Lending Rate (RPLR) on housing loans by 5 basis points (bps).

New Delhi: Mortgage lender HDFC Ltd will raise up to Rs 2,000 crore by issuing debt securities on a private placement basis to augment its long-term resources.

The secured redeemable non-convertible debentures for an issue size of Rs 2,000 crore will be open for bid on June 14 and closes on the same day, HDFC said in a regulatory filing.

The bonds with 10 years of tenure will carry a coupon rate of 6.88% per annum, said the country’s largest mortgage financier.

“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/refinancing the housing finance business requirements of the Corporation,” it said.

Stock of HDFC traded at Rs 2,561.75 apiece on BSE, up 0.67% from the previous close.

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