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HDFC raises Rs 500 crore via masala bonds

Housing Development Finance Corporation (HDFC) has issued masala bonds under its medium-term note (MTN) programme and raised Rs 500 crore. The rupee denominated bonds (RDBs), popularly known as masala bonds, are issued under the MTN programme.

It will offer at coupon of 8.75 per cent per annum payable semi-annually for tenor of 5 years and 1 day. The bonds are unrated and will be listed on the LSE’s International Securities Market (ISM).

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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