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HDFC Ltd. to Raise Rs. 1,500 cr Through Bond Issuance on Tuesday
June 15, 2017
HDFC Ltd is set to raise Rs. 1,500 crore on June 13 by issuing bonds on a private placement basis. The objective of this raising of funds is to bolster the long-term resources and refinance the housing business requirements of the institution, it said in a recent regulatory filing.
HDFC Ltd. which is the largest mortgage institution in the country is known for raising funds through the issuance of bonds. As per the corporation, only those who have received relevant communication from its end are eligible for subscribing these bonds.
The bonds will be closed on the same day of issuance, i.e. June 13 and sold at a coupon rate of 7.50% per annum.
