HDFC to raise Rs 525 crore through debt instruments

Housing Development Finance Corporation (HDFC) will raise Rs 525 crore by issuing bonds on private placement basis on October 4.
The securities, termed as "7.69 per cent HDFC, 4 December 2019", will be in the nature of secured, redeemable, non-convertible debentures to be alloted on a private placement basis.
"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," it said in an exchange filing.
The bonds have been rated 'AAA' by Crisil and ICRA.
HDFC share closed 0.5 per cent down at Rs 1393.05 on BSE.