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HDFC to raise Rs2,000 crore via debentures

LiveMint logoLiveMint 24-08-2017 PTI

New Delhi: The country’s largest mortgage lender HDFC Ltd will raise Rs2,000 crore by issuing debt securities on private placement basis.

The security—6.96% HDFC, 28 December 2018—will be in the nature of secured redeemable non-convertible debentures to be issued on a private placement basis, HDFC said in a regulatory filing.

“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,” it added.

The issue opens on 28 August and closes on the same day. HDFC stock closed 0.33% down at Rs1,767.15 on BSE on Thursday.

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