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HDFC to raise Rs five,000 cr by issuing bonds

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NEW DELHI: Mortgage lender HDFC Ltd about Friday said it will raise up to Rs five,000 crore by issuing bonds on private location 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 7, 2020, and will close on a single day.

The lender mentioned the eligible investors might be only the persons who are especially 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 long term resources of the Corporation. Typically the proceeds of the present problem would be utilised for financing/refinancing the housing finance 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.

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