Housing Development Finance Corporation (HDFC) is all set to raise up to Rs 500 crore through rupee-denominated bonds from overseas investors. The issue will open on October 1 and close on the same date. The pricing and tenure of the bonds to be issued pursuant to the said issue will be intimated to in the due course.
In July this year, in the first-ever masala bond issue, HDFC had raised Rs 3,000 crore through rupee-denominated bonds that got over-subscribed by 4.3 times.
The rupee-denominated bonds or masala bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.
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.
