Housing Development Finance Corporation (HDFC) is planning to raise Rs 1,500 crore by issuing debt securities on private placement basis. The secured non-convertible debentures (NCDs) will carry coupon rate of 7.5 percent per annum. The issue will open on October 13, 2016 with a tenor ending on October 12, 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 of the corporation.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.