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HDFC to raise up to Rs 5,000 crore in debt this week
HDFC Ltd will launch an issue of bonds on a private placement basis on Friday to raise up to Rs 5,000 crore.
 "HDFC to raise up to Rs 5,000 crore in debt this week")
- The secured redeemable non-convertible debentures (NCDs) will bear interest rate at 7.77 per cent.
- The issue size is of Rs 2,500 crore with an option to retain oversubscription of Rs 2,500 crore.
New Delhi: Mortgage major HDFC Ltd will launch an issue of bonds on a private placement basis on Friday to raise up to Rs 5,000 crore, the company said on Wednesday. The secured redeemable non-convertible debentures (NCDs) will bear interest rate at 7.77 per cent, payable annually and has a tenor of 4 years 11 months and 10 days, HDFC said in a regulatory filing.
The issue size is of Rs 2,500 crore with an option to retain oversubscription of Rs 2,500 crore. (ALSO READ: Sensex, Nifty fall for 3rd day on selling in oil, banking, IT shares)
"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," HDFC said. (ALSO READ: Lost your PAN card? Check simple steps to get PDF version or e-PAN in few steps)
The issue opens on July 15, 2022, and closes on the same day.
Axis Bank is the arranger of the proposed bonds issue.
HDFC shares closed at Rs 2,167.40 apiece on BSE, down by 2.65 per cent from the previous close.
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