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HDFC to raise Rs3,500 crore through NCDs

LiveMint logoLiveMint 20-07-2017 PTI

New Delhi: Mortgage lender HDFC Ltd proposes to raise Rs 3,500 crore through a private placement basis by issuing non-convertible debentures (NCDs) to shore up long term resources.

The proceeds of the present issue would be utilised for financing or re-financing the housing finance business requirement of the company, HDFC said in a regulatory filing with stock exchanges.

The issue will open on Monday and close on the same day.

“The object of the issue is to augment the long-term resources of the corporation,” it said. The bonds carrying coupon rate of 7.17% are set to mature in July 2019.

HDFC said only the persons who are specifically addressed through a communication are eligible to apply for the debentures. No other persons can apply, it stated.

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