The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation,” HDFC said.
Mortgage major HDFC Ltd will launch an issue of bonds on a private placement basis on Friday to raise up to Rs 5,000 crore, the company said on July 13. The secured redeemable non-convertible debentures (NCDs) will bear interest rate of 7.77 percent, payable annually and has a tenor of 4 years 11 months and 10 days, HDFC said in a regulatory filing.
The issue size is of Rs 2,500 crore with an option to retain oversubscription of Rs 2,500 crore. “The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation,” HDFC said.
The issue opens on July 15, 2022, and closes on the same day. Axis Bank is the arranger of the proposed bonds issue. HDFC shares closed at Rs 2,167.40 apiece on BSE, down by 2.65 percent from the previous close.
Note:- HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It is India’s largest private sector bank by assets and world’s 10th largest bank by market capitalisation as of April 2021. It is the third largest company by market capitalisation of $122.50 billion on the Indian stock exchanges. It is also the fifteenth largest employer in India with nearly 120,000 employees.
