HDFC to raise 500 crore through bonds for housing

HDFC housing loans
HDFc to raise 500 crores by issuing bonds on private placement basis with a tenor of five years./ source via - google search, business news.
To cater to housing finance needs, India's largest mortgage lender HDFC today said it will raise Rs 500 crore by issuing bonds on a private placement basis.

The bonds with a tenor of five years, have April 26, 2021, as the redemption date. 

Issue size of Rs 500 crore secured redeemable non-convertible debentures, to be held on private placement basis, will carry a coupon rate of 8.35 per cent per annum.

The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation.
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