off-the-wire

India New Issue-HDFC to raise at least 30 bln rupees via 5-year bonds

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, May 11 (Reuters) - India's Housing Development Finance Corp plans to raise at least 30 billion rupees ($366.84 million) through bonds maturing in five years, the company informed exchanges on Thursday. The housing finance company has invited bids from investors and bankers on Monday.


The issue also has a greenshoe option to retain an additional subscription of up to 50 billion rupees. The bonds are rated AAA by CRISIL and ICRA and the issue will be settled on Tuesday.


In April, the company raised 150 billion rupees via 10-year bonds at a coupon of 7.80%.
($1 = 81.7800 Indian rupees) (Reporting by Bhakti Tambe; Editing by Shailesh Kuber)

bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.