HDFC likely to raise at least 30 billion rupees via bonds next week .
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
India's Housing Development Finance Corp (HDFC) will return to bond market after a gap of two months, three merchant bankers said on Friday.
The company plans to raise at least 30 billion rupees ($369.26 million) through bonds maturing in 10 years, they added. The housing financier is likely to invite the coupon bids from investors and bankers next week and is yet to make an official announcement of the issue on an electronic bidding platform. The issue will also have a greenshoe option to retain an additional 20 billion rupees. The bonds, rated AAA by CRISIL, will have a put option at the end of the third year, one of the bankers said. In November, HDFC raised 19 billion rupees through bonds maturing in 10 years at an annual coupon of 7.79%.
Company officials did not immediately respond to an email seeking confirmation of the development.
($1 = 81.2425 Indian rupees)
(HDFC) will return to bond market after a gap of two months, three merchant bankers said on Friday.
The company plans to raise at least 30 billion rupees ($369.26 million) through bonds maturing in 10 years, they added. The housing financier is likely to invite the coupon bids from investors and bankers next week and is yet to make an official announcement of the issue on an electronic bidding platform. The issue will also have a greenshoe option to retain an additional 20 billion rupees. The bonds, rated AAA by CRISIL, will have a put option at the end of the third year, one of the bankers said. In November, HDFC raised 19 billion rupees through bonds maturing in 10 years at an annual coupon of 7.79%.
Company officials did not immediately respond to an email seeking confirmation of the development.
($1 = 81.2425 Indian rupees)
Tag News
Fit-tech startup beatXP set to raise $50 mn,
