HDFC to raise Rs 5,000 crore by issuing bonds on private placement basis to meet business requirements
Firstpost May 07,2020 New Delhi: Mortgage lender HDFC Ltd plans to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements. HDFC will issue secured redeemable non-convertible debentures on private placement basis with an issue size of Rs 2,500 crore and an option to retain over-subscription of up to Rs 2,500 crore, according to a regulatory filing. "The object of the issue is to augment the 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," HDFC said. Its shares closed 2.49 percent higher at Rs 1,732.95 apiece on the BSE on Wednesday. Reference:- https://www.firstpost.com/business/hdfc-to-raise-rs-5000-crore-by-issuing-bonds-on-private-placement-basis-to-meet-business-requirements-8341761.html