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HDFC planning to raise Rs 5,000 crore via NCDs

Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements. The bank will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and an option to retain over-subscription of 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 utilized for financing /refinancing the housing finance business requirements of the 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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