HDFC to raise Rs 2,000 cr via pvt placement to augment long term capital requirement

The issue will open on Thursday and close on the same day

|Jun 06, 2017, 16:54:38 IST

New Delhi: Mortgage lender HDFC Ltd will raise Rs 2,000 crore through a private placement basis by issuing bonds to shore up long term capital.HDFC Ltd, which is the largest mortgage lender in the country, said it will issue secured redeemable non-convertible debentures on a private placement basis to raise a total of Rs 2,000 crore.The issue will open on Thursday and close on the same day.[caption id="attachment_763511" align="alignleft" width="380"] Reuters[/caption]"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 in a regulatory filing.The bonds carrying coupon rate of 7.60 percent are set to mature in June 2020.HDFC said only the persons who are specifically addressed through a communication are eligible to apply for the debentures.No other persons can apply, it stated.Stock of the company today closed 0.37 percent down at Rs 1,600.05 apiece on BSE.

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