HDFC to raise debt of Rs.450 crore

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Chennai, Jan 27 (IANS) HDFC on Tuesday said it would raise Rs.450 crore from private placement of secured redeemable non-convertible debentures.

In a regulatory filing of the term sheet for the issue of the said security under Series O-012, HDFC said the mode of raising the Rs.450 crore is through private placement mainly to augment the long term resources.

The company said the issue proceeds would be used for financing and refinancing its housing finance business.

The debentures carrying a coupon rate of 8.60 percent will have a tenor of three years and one month.

The issue opens and closes on January 28, 2016.

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