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HDFC raises to Rs 5,500 cr through bonds on Thursday

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Mortgage lender HDFC will raise up to Rs 5,500 crore by issuing bonds on a private placement basis to bolster its resources. The issuance of secured callable non-convertible bonds (NCDs) will have a base size of Rs 4,000 crore with an option to maintain an oversubscription of up to Rs 1,500 crore.



“The purpose of the issue is to increase the long-term resources of the Corporation,” HDFC Ltd said in a regulatory filing Tuesday.

The nation’s largest mortgage lender said it will use the proceeds from the issue to fund or refinance its home financing business needs.

The bond issue opens on November 17, 2022 and closes on the same day.

Housing finance company (HDFC), poised for a merger with its subsidiary HDFC Bankoffers a coupon of 7.70 percent per annum on the bonds.

The term of the bonds is three years.

HDFC shares traded at Rs 2,667.10 on the BSEan increase of 0.21 percent from the previous close.

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