HDFC Ltd will issue bonds worth Rs 500 crore tomorrow to meet long-term capital requirements.
HDFC will issue secured redeemable non-convertible debentures on a private placement basis for a tenor of one-and-a-half years to raise the amount, it said in a regulatory filing.
“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.
The bonds would carry coupon rate of 7.7 per cent per annum. Stock of the company traded 0.09 per cent lower at Rs 1,383.05 on BSE.