Housing Development Finance Corporation (HDFC) is planning to raise Rs 500 crore by issuing secured redeemable non-convertible debentures (NCDs) through private placement. The NCDs will carry a coupon rate of 8.49 per cent per annum and will have a tenure of 3 years and 274 days.
The NCD issue will open and close on June 20. Minimum subscription has been pegged at one debenture of Rs 1 crore each and in multiples of one debenture thereafter.
The objective of the issue is to augment its long-term resources. Proceeds of the issue would be utilised for financing/refinancing the housing business requirements. The NCDs will be listed on the BSE and NSE.
