HDFC to raise ₹500 crore via masala bonds

Our Bureau Mumbai | Updated on November 20, 2018 Published on November 20, 2018

Mortgage lender Housing Development Finance Corporation will raise close to ₹500 crore through rupee-denominated bonds or masala bonds.

In a filing to the stock exchanges on Monday, it said it has closed the issue of ₹500 crore under the medium term note (MTN) programme.

It will offer a coupon of 8.75 per cent a year payable semi-annually for a tenor of five years and one day.

“The bonds are unrated and will be listed on the LSE’s International Securities Market,” it said.

HDFC had in March this year announced that its MTN programme has been updated for an amount up to $2,800 million.

On Tuesday, HDFC shares fell 1.12 per cent to close at ₹1,877.05 on the BSE.

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Published on November 20, 2018
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