New Delhi: loan lender HDFC Ltd on Wednesday said it’s going to raise Rs 2,000 crore through non-convertible debentures (NCDs) to fund commercial enterprise needs.
it’s going to boost the proceeds on a personal placement foundation by issuing secured redeemable NCDs, it said in a filing to the BSE.
“The item of the difficulty is to reinforce the long–time period resources of the business enterprise. The proceeds of the present trouble might be utilised for financing/refinancing the housing finance commercial enterprise requirements of the agency“, it stated.
The debt contraptions, to be issued and closed on March four, will bring a coupon fee of 8.75 per cent in keeping with annum.
The eligible buyers could be specially addressed via a communique to apply for the debentures and nodifferent individual would be capable of apply, HDFC added.
remaining October, HDFC had raised over Rs 10,000 crore through a mix of warrants and non-convertible debentures to certified institutional traders.