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HDFC to raise up to ₹5,500cr via bonds

November 16, 2022

HDFC to raise up to ₹5,500cr via bonds
Mortgage lender HDFC will raise up to ₹5,500 crore by issuing bonds on a private placement basis to shore up its resources. The secured redeemable non-convertible debentures (NCDs) issue will have a base size of ₹4,000 crore with an option to retain oversubscription of up to ₹1,500 crore. 

“The object of the issue is to augment the long-term resources of the Corporation,” HDFC Ltd said in a regulatory filing on Tuesday. 

The largest mortgage lender in the country said it will use the proceeds from the issue for financing or refinancing the housing finance business requirements. 

The bondissue opens on November 17, 2022, and closes on the same day. 

Housing Development Finance Corporation (HDFC), set for a merger with its subsidiary HDFC Bank, will offer a coupon at 7.70 per cent per annum on the bonds. 

The tenor of the bonds is of three years. 
HDFC stock was trading at ₹2,667.10 on the BSE, up 0.21 per cent from the previous close. 

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