($1 = 82.0010 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Savio D'Souza)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) By Bhakti Tambe and Dharamraj Dhutia
MUMBAI, April 18 (Reuters) - India's Housing Development
Finance Corp Ltd (HDFC) is planning to raise at least
20 billion rupees ($244 million) through bonds maturing in 1
year and 11 months, three merchant bankers said on Tuesday.
The housing financier is likely to invite bids from
investors and bankers for the proposed issue by the end of this
week, they said.
HDFC is yet to make an official announcement of the planned
bond sale on the electronic bidding platforms and did not
immediately respond to a Reuters request for comment.
The bonds are rated AAA by CRISIL and India Ratings and the
issue will be settled next week.
In February, HDFC raised 250 billion rupees through bonds
maturing in 10 years at a coupon of 7.97%.
HDFC had raised an aggregate of over 784 billion rupees
through bond issuance in last financial year.
The latest issue comes, as the company is set to merge with
HDFC Bank Ltd in the coming months.
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