All Rights Reserved Finance News 2020.
HDFC to raise Rs 5 various,000 cr by issuing bonds
NEW DELHI: Mortgage lender HDFC Ltd about Friday said it will raise up to Rs 5 various,000 crore by issuing bonds on private place 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 to get bidding on September 7, 2020, and will close for a passing fancy day.
The lender mentioned the eligible investors will be only the persons who are exclusively addressed through communication to apply for the debentures.
The redemption date connected with the bonds, carrying a coupon of 4.95 per cent to be paid annually, can be September 9, 2022.
“The object of the issue can be to augment the long term resources of the Corporation. Often the proceeds of the present challenge would be utilised for financing/refinancing the housing finance business enterprise requirements of the Corporation,” it said in the processing.
HDFC stock closed 2.19 per cent down on Rs 1,770 each on BSE.