Dewan Housing to raise Rs 325 crore via bond issue

Dewan Housing Finance Corporation (DHFL) is planning to raise funds by way of issue of Unsecured Non Convertible Redeemable Bonds (Lower Tier II) in the nature of Subordinated Debt up to an amount of Rs 325 crore, in one or more tranches on private placement basis.

The company has received AA rating from Credit Analysis & Research (CARE) for the mentioned bond issue. The Brickwork Ratings India has also assigned BWR ‘AAA’ rating to the company’s bond issue.

DHFL is among the oldest private sector Housing Finance Companies (HFC) in India. It is the third-largest HFC with a loan portfolio of Rs 19,355 crore as on March 31, 2012.