HDFC to raise Rs 5,000 crore by issuing bonds on private placement basis to meet business requirements

New Delhi: Mortgage lender HDFC Ltd plans to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements. HDFC will issue secured redeemable non-convertible debentures on private placement basis with an issue size of Rs 2,500 crore and an option to retain over-subscription of up to Rs 2,500 crore, according to a regulatory filing. [caption id=“attachment_5030051” align=“alignleft” width=“380”] File image of HDFC Chairperson Deepak Parekh. PTI[/caption] The coupon on the bonds, to be maturing in December 2021, has been fixed at 7.06 percent per annum. Click here to follow LIVE news and updates on stock markets “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 said. Its shares closed 2.49 percent higher at Rs 1,732.95 apiece on the BSE on Wednesday.