Housing Development Finance Corporation (HDFC) will issue secured redeemable non-convertible debentures (NCDs) worth Rs 2000 crore on a private placement basis. The issue will open on August 1 and close on the same day. The coupon rate on the bonds is fixed at 7.20% per annum and set to mature by September 2020. The object of the issue is to augment long-term resources of the corporation. The proceeds of the present issue would be utilized for financing and refinancing the housing finance business requirements of the corporation.
Housing Development Finance 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.
