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MUMBAI (Reuters) – India’s Housing Development Finance Corp plans to raise at least 30 billion rupees ($370.5 million) through the sale of bonds maturing in 10 years, three merchant bankers said on Monday.
The housing finance company has invited coupon and commitment bids from bankers and investors on Tuesday, they added.
The issue will also have a greenshoe option to retain an additional 20 billion rupees and will close for subscription later this week.
The bonds are rated AAA by CRISIL and will have a put option at the end of the third year.
Last week, Reuters had reported that the housing financier plans to tap the bond market after a gap of two months.
In November, HDFC raised 19 billion rupees through bonds maturing in 10 years at an annual coupon of 7.79%. ($1 = 80.9790 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D’Souza)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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