Housing Development Finance Corporation (HDFC) has raised another Rs 500 crore by issuing rupee-denominated masala bonds to overseas investors, taking the tally to Rs 5,000 crore so far in four tranches. The issue carries a coupon rate of 7.25% payable semi-annually. The bonds will mature on January 9, 2020. The company will use the issue proceeds for the housing finance business as well as general corporate purposes.
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.
