HDFC plans to raise upto Rs 12,000 crore via NCDs
The Housing Development Finance Corporation (HDFC Ltd) will issue bonds on a private placement basis next week to raise up to Rs 12,000 crore. In a regulatory filing on Friday, the company said its base issue size is 1,000 crore with an oversubscription option of up to 11,000 crore.
There will be an 8.07 percent coupon rate per annum on the secured redeemable Non-Convertible Debentures (NCDs) for a tenor of ten years.
The issue aims to increase the corporation's long-term resources. As per the report, proceeds from the present issue will be used to finance/refinance the housing finance business of the company
The issue opens on October 11 and closes the same day. According to the mortgage lender, the issue is part of the "AA-series" of Shelf Placement Memoranda aggregating Rs 75,000 crore approved in November 2021.
HDFC plans to raise upto Rs 12,000 crore via NCDs