HDFC To Raise Up To Rs 11,000 Crore By Issuing Bonds This Month
The proceeds of the present issue would be utilised for financing or refinancing the housing finance business requirements.
Mortgage lender Housing Development Finance Corporation plans to raise up to Rs 11,000 crore by issuing bonds on a private placement basis.
The base issue size of the company's secured redeemable non-convertible debentures is Rs 4,000 crore with an option to retain oversubscription of up to Rs 7,000 crore, HDFC said in a regulatory filing on Friday.
"The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation," it added.
HDFC said the bids for the issue will open on July 26 and close on the same day. The bonds will carry a coupon rate of 8% per annum.