All Rights Reserved Finance News 2020.
HDFC to raise Rs 5 various,000 cr by issuing bonds
NEW DELHI: Mortgage lender HDFC Ltd upon 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 completing.
The secured redeemable non-convertible debentures will be open regarding bidding on September 7, 2020, and will close for a passing fancy day.
The lender explained the eligible investors can be only the persons who are especially 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, is definitely September 9, 2022.
“The object of the issue is definitely to augment the long term resources of the Corporation. Typically the proceeds of the present challenge would be utilised for financing/refinancing the housing finance organization requirements of the Corporation,” it said in the completing.
HDFC stock closed 2.19 per cent down from Rs 1,770 each on BSE.