GIC Housing Finance to raise funding through issuance of commercial papers

6 Dec 2022 , 08:51 AM

Three merchant bankers revealed to ET on Monday that India's GIC Housing Finance intends to raise money by offering commercial notes with a two-month maturity.

According to the bankers, the housing finance company would give a yield of 7.40% on this offering and has already received commitments totalling about Rs1 billion ($12.23 million).

The notes will mature on February 10 and have an ICRA rating of A1+.

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