Housing Development Finance Corporation (HDFC) is planning to raise up to Rs 12,000 crore by issuing bonds on a private placement basis next week. The secured redeemable Non-Convertible Debentures (NCDs) will carry a coupon rate of 8.07 per cent per annum for a tenor of 10 years.
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 the housing finance business requirements of the 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.
