5,000 CRORE WILL BE RAISED BY HDFC, VIA BONDS

HDFC  Ltd, a mortgage lender plans to meet its business requirements by issuing bonds on private placement basis to raise up to Rs 5,000  crore.HDFC
Secured redeemable non-convertible debentures will be issued by HDFC on private placement basis with an issue size of Rs 2,500 crore and an option to retain subscription of up to Rs 2,500 crore, making it up to Rs 5,000 crore that can be raised, according to a regulatory filing.
Also, a rate of 7.06 per cent has been fixed for the coupon on the bonds to be maturing in December 2021.
The bank  also said, “ To augment the long-term resources of the Corporation is the main object of the issue and the proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation.”
Its shares closed 2.49 percent higher at Rs 1,732.95 apiece on the Bombay Stock Exchange on Wednesday.

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