All Rights Reserved Finance News 2020.
HDFC to raise Rs 5 various,000 cr by issuing bonds
NEW DELHI: Mortgage lender HDFC Ltd in Friday said it will raise up to Rs 5 various,000 crore by issuing bonds on private positioning basis.
The issue dimensions are of Rs 2,000 crore, with an option to retain oversubscription of Rs 3,000 crore, HDFC said in a regulatory processing.
The secured redeemable non-convertible debentures will be open with regard to bidding on September 6, 2020, and will close within the exact same day.
The lender stated the eligible investors can be only the persons who are exclusively addressed through communication to apply for the debentures.
The redemption date regarding the bonds, carrying a coupon of 4.95 per cent to be paid annually, is usually September 9, 2022.
“The object of the issue is usually to augment the long term resources of the Corporation. Often the proceeds of the present matter would be utilised for financing/refinancing the housing finance company requirements of the Corporation,” it said in the processing.
HDFC stock closed 2.19 per cent down in Rs 1,770 each on BSE.