Mortgage lender HDFC to raise up to Rs 5,000 crore through bonds

Mortgage lender Ltd on Wednesday said it will raise up to Rs 5,000 crore by issuing (NCDs) on a private placement basis.

The issue will open on March 5, 2021 and close the same day, said in a regulatory filing.

The base size of the issue of secured redeemable NCDs is Rs 2,000 crore with an option to retain oversubscription up to Rs 3,000 crore, it added.

“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/refinancing the housing finance business requirements of the Corporation,” it said.

The coupon rate on the bonds, set to mature on March 8, 2023, is fixed at 5.30 per cent per annum. The arranger of the issue is ICICI Bank.

stock closed at Rs 879.80, up 8.62 per cent on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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