HDFC to raise ₹2,000 crore via NCDs

Housing Development Finance Corporation (HDFC), on Tuesday, said it plans to raise ₹2,000 crore via private placement of secured non-convertible debentures (NCDs). The NCD issuance also has an option to retain oversubscription of ₹3,000 crore. The NCDs, which have a ₹10 lakh face value, have a tenor of 10 years and carry a coupon rate of 7.40 per cent per annum, which is payable annually. The issue opens and closes on February 27. HDFC said the object of the issue is to augment its long-term resources.