HDFC to raise Rs 2,000 cr via debentures

Mortgage lender HDFC Ltd will raise Rs 2,000 crore on private placement basis by issuing NCDs to shore up its long term capital.
HDFC will issue secured redeemable non-convertible debentures on a private placement basis on March 14 to raise the sum, it said in a regulatory filing.
The debentures will fetch investors yield of 7.45 per cent per annum. They will be up for redemption on June 14, 2018.
"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," it said.

Axis Bank is the arranger for the issue.
Shares of HDFC closed 0.16 per cent up at Rs 1367.30 on BSE.