The non-banking financial company (NBFC) will pay an annual coupon of 7.80% to the investors, and had invited commitment bids from bankers and investors earlier in the day, they added. The bonds are rated AAA by Crisil and India Ratings and the issue will be settled on Wednesday. This is the second bond issue by the NBFC in this financial year. In April, HDFC raised 30.05 billion rupees via bonds maturing in one year, 10 months and eight days at a coupon of 7.79%. The latest issue comes as the company gets set to merge with HDFC Bank in the coming months. ($1 = 81.7475 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Eileen Soreng)
MUMBAI, May 2 (Reuters) - India's Housing Development
Finance Corp has accepted bids worth 150 billion
rupees ($1.83 billion) for bonds maturing in 10 years, three
merchant bankers said on Tuesday.
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