LIC Housing Finance raises Rs 750 cr through bond issue

Even as tight liquidity conditions continue in the system, LIC Housing Finance has raised Rs 750-crore through a bond issue at a competitive rate. The amount raised is over three times its intended issue size and at a rate of 9.4 per cent, adding that the bonds will have a tenure of two years. 

The rate is within the prevailing one-year bank certificate of deposits (CD) or commercial paper (CP) rates of 9.2-9.5 per cent. The original issue size was Rs 200 crore and also had a green-shoe option, allowing it to retain over subscriptions.crackcrack