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HDFC to raise Rs2,000 crore via debt, issue opens on Friday

LiveMint logoLiveMint 15-06-2017 PTI

New Delhi: Mortgage lender the Housing Development Finance Corporation (HDFC) will raise Rs2,000 crore by issuing bonds through a private placement offer that opens on Friday to augment its long-term resources.

“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 in a regulatory filing.

The country’s largest mortgage lender will issue secured redeemable non-convertible debentures (NCDs) on 16 June, which closes on the same day. The bonds will carry a tenor of three years three months, and will pay an interest of 1.50% per annum from the date of allotment till 15 September 2018, thereafter 11.73% per annum from September 2018 up to redemption date.

HDFC said only those persons who are specifically addressed through a communication are eligible to apply for the debentures and no other person can apply. Shares of HDFC closed 0.53% down at Rs1,662.00 on BSE on Thursday.

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