Housing Development Finance Corporation (HDFC), the country’s largest mortgage lender, will be raising Rs 1,135 crore by issuing debentures. The object of the issue is to augment the long term resources of the company. The proceeds of the issue would be utilized for financing/refinancing the housing finance business requirements of the corporation.
The issue of the Non-Convertible Debentures (NCDs) will be done on a private placement basis and will open for a day on May 6. The NCDs carry coupon rate of 8.34 percent. ICICI Bank and SBI Capital Markets are the arrangers to the issue.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
