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HDFC to raise Rs 1,000 crore on private placement basis

HDFC will issue secured redeemable non-convertible debentures (NCDs) worth Rs 1,000 crore on a private placement basis for a tenor of two years and five month, in order to meet its long-term capital requirements.

The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the corporation. The bonds would carry a coupon rate of 7.55 per cent per annum. The issue will open and close for subscription on May 31, 2017.

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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