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.
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
Stablecoin The Future Of Currency?
The payments system is undergoing a quiet but consequential shift. What was once the exclusive preserve of central banks... Read more
BoE Loosens Capital Rules
The Bank of England has taken a significant step towards easing post-crisis regulation by lowering its estimate of the c... Read more