New Delhi: HDFC today said it will raise Rs1,035 crore through issuance of debentures on a private placement basis to augment its long-term capital resources. “The object of the issue is to augment 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,” it said in a regulatory filing. The bonds in the form of secured redeemable non- convertible debentures will carry a coupon rate of 8.5 per cent per annum. HDFC shares were trading 1.78 per cent down at Rs 1,220.45 on BSE during the afternoon session. PTI
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