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HDFC to raise Rs 5 various,000 cr by issuing bonds

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NEW DELHI: Mortgage lender HDFC Ltd about Friday said it will raise up to Rs 5 various,000 crore by issuing bonds on private position 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 declaring.

The secured redeemable non-convertible debentures will be open regarding bidding on September 7, 2020, and will close about the same day.

The lender stated the eligible investors could well 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 definitely September 9, 2022.

“The object of the issue is definitely to augment the extensive resources of the Corporation. Often the proceeds of the present concern would be utilised for financing/refinancing the housing finance company requirements of the Corporation,” it said in the declaring.

HDFC stock closed 2.19 per cent down from Rs 1,770 each on BSE.

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