Housing Development Finance Corporation (HDFC), the country’s largest mortgage lender, will raise Rs 730 crore through private placement of non-convertible debentures (NCDs). The mortgage lender will use this proceeds to fund its long term capital resources.
The secured redeemable non-convertible debentures will carry a coupon rate of 8.45 percent per annum. The issue will open on May 24 and will close on the same day.
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.
