The private placement bond issuance by Housing Development Finance Corporation (HDFC) is aimed to raise up to Rs11,000 crore.
In a regulatory filing on Friday, HDFC stated that the secured redeemable non-convertible debentures of the business have a base issue size of Rs4,000 crore and an option to retain an oversubscription of up to Rs7,000 crore.
The statement said, “The proceeds of the current offering would be used for financing/refinancing the home finance business requirements of the firm.” The bids for the issuance will go live on July 26 and end on the same day, according to HDFC. The bonds will have an annual coupon rate of 8%.
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