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HDFC planning to raise funds up to Rs 3000 crore via bonds

Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 3,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs. The ‘HDFC Series V-006 11th July, 2014’ secured redeemable non-convertible debentures will have an issue size of Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 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 or refinancing the housing finance business requirements of corporation.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.

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