Housing Development Finance Corporation (HDFC) will raise Rs 2,000 crore on private placement basis by issuing NCDs to shore up its long term capital. The mortgage lender will issue secured redeemable Non-Convertible Debentures (NCDs) on a private placement basis on March 14 to raise the sum.
The debentures will fetch investors’ yield of 7.45 per cent per annum. They will be up for redemption on June 14, 2018. Axis Bank is the arranger for the issue.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.