HDFC has decided to issue secured redeemable non-convertible debentures (NCDs) worth Rs 1,000 crore on a private placement basis for a tenor of one-and-a-half years, in order to meet its long-term capital requirements. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the corporation. The bonds would carry a coupon rate of 7.7 per cent per annum.
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.
