homebusiness NewsHDFC to raise at least Rs 3,000 crore through sale of bond for 10 years

HDFC to raise at least Rs 3,000 crore through sale of bond for 10 years

HDFC to raise at least Rs 3,000 crore through sale of bond for 10 years
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By Asmita Pant  Jan 23, 2023 12:31:48 PM IST (Published)

The said issue is also expected to have a greenshoe option to retain an additional 20 billion rupees. The issue will close for subscription later this week. The bonds are rated AAA by CRISIL and will have a put option at the end of the third year.

Housing Development Finance Corp (HDFC) plans to raise at least Rs 3,000 crore through the sale of bonds maturing in 10 years, Reuters stated citing three merchant bankers. According to these bankers, the housing finance company has invited coupon and commitment bids from bankers and investors on Tuesday for the same.

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The said issue is also expected to have a greenshoe option to retain an additional 20 billion rupees. The issue will close for subscription later this week. The bonds are rated AAA by CRISIL and will have a put option at the end of the third year.
In November last year, HDFC raised Rs 1,900 crore through bonds maturing in 10 years at an annual coupon of 7.8 percent.
Earlier this month, HDFC Bank reported that its net interest income or core income at its best pace in 14 quarters during the December period. The lender reported a net interest income (NII) of Rs 22,987 crore for the quarter under review, up 25 percent compared to Rs 18,443 crore during the same period last year.
Net Interest Margin (NIM) came at 4.3 percent, also the highest in 10 quarters.
HDFC Bank reported a net profit of Rs 12,259.5 crore, higher than the expectations of Rs 12,106 crore. The bottomline grew 19 percent compared to the same period last year.
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