Housing Development Finance Corporation (HDFC) is all set to raise up to Rs 5,000 crore by issuing bonds on a private placement basis to shore up its long-term capital needs. The secured redeemable non-convertible debentures will bear coupon rate of 7.50 percent per annum.
The issue size of the bond issue is Rs 3,000 crore with an option to retain oversubscription up to Rs 2,000 crore. The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/ refinancing of the housing finance business requirements of the Corporation. The issue opens on January 7, 2020 and closes the same day.
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.
