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    HDFC plans to raise up to Rs 2,500 crore via NCDs

    HDFC plans to raise up to Rs 2,500 crore via NCDs

    HDFC plans to raise up to Rs 2,500 crore via NCDs
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    By CNBC-TV18  IST (Published)

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    Mortgage lender HDFC Ltd will issue bonds worth Rs 2,500 crore via private placement route.

    Mortgage lender HDFC Ltd will issue bonds worth Rs 2,500 crore via private placement route.
    The bonds will be offered at a coupon rate of 7.21 percent per annum.
    The secured redeemable non-convertible debentures are to be allotted on a private placement basis on Friday for an issue size of Rs 2,500 crore, HDFC Ltd said in a regulatory filing on Tuesday.
    "The object of the issue is to augment the long-term resources of (HDFC). The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the (company)," it said.
    Shares of HDFC closed at Rs 2,411.20 apiece on the BSE, down 0.46 percent as compared with the previous close.
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