financialexpress
HDFC Ltd will raise Rs 5000 crore by the issue of non-convertible debentures (NCDs) on a private placement basis.
The NCD issue will open and close on the same day, March 5.
“The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the Corporation,” HDFC said in a regulatory filing.
The base size of the issue of secured redeemable NCDs is Rs 2,000 crore. The issue will come with an option to retain oversubscription up to Rs 3,000 crore.
The coupon rate on these bonds is decided at 5.30% p.a. the bonds will mature on March 8.
ICICI bank will arrange the issue.