HDFC Ltd to raise Rs 1,500 cr via bonds issuance to augment capital

New Delhi: Mortgage lender HDFC Ltd will 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 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 a regulatory filing. The issue will open on October 13 with a tenor ending on October 12, 2018. HDFC Ltd stock closed 0.21 per cent to Rs 1,423.80 on BSE.