HDFC plans to issue bonds in order to raise Rs 3,000 crore.
The Housing Development Finance Corporation (HDFC) announced that it will fund Rs 3,000 crore through the private issue of bonds. The secured redeemable non-convertible debentures (NCDs) with a coupon rate of 7.10% per annum will be available for subscription on November 11, 2021, and will close on the same day.
The issue’s goal is to supplement the corporation’s long-term resources. According to a regulatory filing, the proceeds of the current offering will be used to finance/refinance the corporation’s home finance business requirements.
Crisil and Icra have assigned the bonds AAA ratings.HDFC shares finished at Rs 2,940.50 a share on the BSE, down from Rs 2,940.50 the previous day.