HDFC Ltd looks to raise Rs 2,000 crore via NCDs

HDFC Ltd today said it will issue non-convertible debentures (NCDs) on a private placement basis to raise Rs 2,000 crore.
The secured, redeemable NCDs to be issued on July 27, will carry a coupon rate of 8.15 per cent per annum, HDFC said in a regulatory filing.
"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.
The Housing Development Finance Corporation (HDFC) said only the persons specifically addressed through a communication are eligible to apply for the debentures and no other person could apply.

Stock of the company was trading 1.35 per cent higher at Rs 1,350.00 on BSE in pre-close session.