HDFC Plans To Raise Up To Rs 4,000 Cr Via Bonds; Stock Ends 1.25% Lower
Mortgage lender HDFC on Thursday said it will raise up to Rs 4,000 crore by issuing bonds on private placement basis.
The issue size of the secured redeemable non-convertible debentures, to open on June 15, 2020, is of Rs 2,100 crore with option to retain over-subscription up to Rs 1,900 crore, HDFC said in a regulatory filing.
The issue, set to close on the same date (June 15), will offer coupon rate of 7.25 per cent per annum payable annually. The date of redemption is June 17, 2030.
“The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirement of the Corporation,” Housing Development Finance Corporation said. HDFC stock ended 1.25 per cent lower at Rs 1,787.10 on BSE on Thursday.
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more