Mortgage lender HDFC Ltd proposes to raise Rs 3,500 crore through a private placement basis by issuing non-convertible debentures (NCDs) to shore up long term resources.
The proceeds of the present issue would be utilised for financing or re-financing the housing finance business requirement of the company, HDFC said in a regulatory filing with stock exchanges.
The issue will open on Monday and close on the same day.
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The bonds carrying coupon rate of 7.17 per cent are set to mature in July 2019.
HDFC said only the persons who are specifically addressed through a communication are eligible to apply for the debentures. No other persons can apply, it stated.
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