Money & Banking

HDFC plans to raise Rs 500 cr via NCDs

Our Bureau Mumbai | Updated on January 20, 2018 Published on June 17, 2016

Housing Development Finance Corporation (HDFC) on Friday said it is planning to raise Rs 500 crore by issuing secured redeemable non-convertible debentures (NCDs) through private placement.

The NCDs will carry a coupon rate of 8.49 per cent per annum and will have a tenure of 3 years and 274 days.

The NCD issue will open and close on June 20. Minimum subscription has been pegged at one debenture of Rs 1 crore each and in multiples of one debenture thereafter.

As per the housing finance company’s term sheet, the objective of the issue is to augment its long-term resources.

Proceeds of the issue would be utilised for financing/refinancing the housing business requirements, the Corporation said in a notice to the BSE. The NCDs will be listed on the BSE and NSE.

Published on June 17, 2016
null
This article is closed for comments.
Please Email the Editor