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HDFC enhances existing limit to raise capital through medium-term notes

29 Jul 2021 Evaluate

Housing Development Finance Corporation (HDFC) has enhanced its existing limit to raise capital through medium-term notes to up to $ 2.8 billion (about Rs 20,875.65 crore). The company has updated its existing medium-term note (MTN) programme for an amount of up to $ 2.8 billion in order to enable the Corporation to issue rupee/foreign currency-denominated bonds in the international capital market. The enhancement is subject to regulatory approvals.

The update of the MTN programme is only an enabling step, and presently no instruments are being issued by the Corporation. The MTN programme allows a company to issue bonds to meet its constant capital requirement for the medium term. The coupon on these types of bonds are higher than those on short-term notes. These can be offered with or without call options.

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.

HDFC-Amalgamated Share Price

2729.95 0.00 (0.00%)
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