LIC Housing Finance eyeing to raise at least Rs 200 crore via bonds

LIC Housing Finance, a subsidiary of Life Insurance Corporation, is eyeing to raise at least Rs 200 crore through 18-month bonds carrying a coupon rate of 9.70 percent. Axis Bank is the sole arranger to the deal.

LIC Housing Finance is the second largest housing finance player in India. It has one of the widest networks of 205 offices across the country and representative offices at Dubai and Kuwait.

The company’s net profit after tax for the quarter has declined by 57.99% at Rs 98.39 crore as compared to Rs 234.21 crore for the September quarter of the previous fiscal. Its total income has increased by 36.83% at Rs 1515.37 crore for the Q2FY12 from Rs 1107.45 crore for Q2FY11.