HDFC to raise up to Rs 7,000 cr by issuing bonds

By: |
May 25, 2021 8:56 PM

The bonds have a tenor of 4 years and 363 days, and the redemption date is set as May 29, 2026. The arranger of the issue is Axis Bank.

Other income of the bank grew 54.3% y-o-y at Rs 6,288.5 crore. The four components of other income were fees and commissions of Rs 3,885.4 crore, foreign exchange and derivatives revenue of Rs 1,198.7 crore, gain on sale or revaluation of investments of Rs 601.0 crore.Other income of the bank grew 54.3% y-o-y at Rs 6,288.5 crore. The four components of other income were fees and commissions of Rs 3,885.4 crore, foreign exchange and derivatives revenue of Rs 1,198.7 crore, gain on sale or revaluation of investments of Rs 601.0 crore.

HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis.

The base issue size for the secured redeemable non-convertible debentures (NCDs) is Rs 5,000 crore with option to retain oversubscription of up to Rs 2,000 crore, HDFC said in a regulatory filing.

The country’s largest mortgage lender will offer coupon rate of 6 per cent per annum on the bonds, the issue for which opens on May 28, 2021. The issue will close on the same day.

“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.

The bonds have a tenor of 4 years and 363 days, and the redemption date is set as May 29, 2026. The arranger of the issue is Axis Bank.

HDFC stock closed 0.45 per cent lower at Rs 2,528.90 on BSE.

 

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