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DHFL to raise Rs500 crore funding through perpetual bond issue

LiveMint logoLiveMint 29-07-2017 PTI

New Delhi: DHFL on Friday said it plans to issue debt instruments to raise up to Rs500 crore on a private placement basis.

“The company proposes to issue non-convertible unsecured subordinated perpetual bonds in the nature of debentures up to an amount of Rs500 crore on private placement basis,” the company said in a regulatory filing.

The issue opens next week on Thursday and closes on the same day. The bonds bear a coupon rate of 9.85%.

Perpetual bonds carry no maturity date and are no redeemable, so they may be treated as equity than debt.

Dewan Housing Finance Corporation (DHFL) is one of the housing finance companies in India. It has associate businesses in life insurance, asset management, financial services through its joint ventures and subsidiaries.

Stock of DHFL closed 2.04% up at Rs460.35 on BSE on Friday.

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