HDFC raises Rs2,500 crore via issue of secured NCDs; stock rises

14 Jul 2022 , 10:41 AM

Housing Development Finance Corporation Limited informed that it has issued secured redeemable Non-Convertible Debentures through Private Placement.

The company has issued debentures worth Rs2,500 crore.

The objective of the issue is to expand the long-term resources of the company. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the Corporation.

The coupon rate applicable to the issue will be 7.77% p.a.

The issue is for a period of 4 years 11 months 10 days, and therefore, becomes redeemable on June 28, 2027.