LIC Housing Finance raises Rs 19,000-crore through commercial papers, NCDs

The housing finance company has a strong fund-raising ability and will need to raise additional capital to meet the revised norms of the National Housing Bank

LIC Housing Finance (LIC HFL) has raised over Rs 19,000 crore through commercial papers (CPs) and non-convertible debentures (NCDs) in the current financial year (FY20).

The housing finance company (HFC) has a strong fund-raising ability and will need to raise additional capital to meet the revised norms of the National Housing Bank (NHB), according to ICRA.

The rating agency reaffirmed “A1+” rating for the firm’s CP programme.

The company has adequate liquidity. But, it shows negative cumulative mismatches in the short- and medium-term buckets owing to the long term nature of assets vis-à-vis its liabilities and high gearing levels. The company has Rs