HDFC to issue NCDs worth Rs. 500 crore on Aug. 26

, 9:22 PM IST

New Delhi: HDFC Ltd. has announced to issue bonds worth Rs. 500 crore on August 26 to meet long-term capital requirements.

In a BSE filing, the company said that it would issue secured redeemable non-convertible debentures on a private placement basis for a tenor of one-and-a-half years to raise the amount.

“The object of the issue is to augment the long-term resources of the corporation. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the Corporation,” HDFC said in a regulatory filing.

“The bonds would carry coupon rate of 7.7 percent per annum,” the statement added. (ANI)