HDFC is planning to raise Rs 2000 crore through issue of non-convertible debentures (NCDs) on a private placement basis. The secured, redeemable NCDs to be issued on July 27, will carry a coupon rate of 8.15 per cent per annum.
The objective of the issue is to augment 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.
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.
