Representative Image
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
HDFC To Raise At Least Rs 3000 Cr Via Bonds; May Invite Bids Next Week
MUMBAI (Reuters) - India's Housing Development Finance Corp (HDFC) will return to bond market after a gap of two months, three merchant bankers said on Friday.
The company plans to raise at least 30 billion rupees ($369.26 million) through bonds maturing in 10 years, they added. The housing financier is likely to invite the coupon bids from investors and bankers next week and is yet to make an official announcement of the issue on an electronic bidding platform. The issue will also have a greenshoe option to retain an additional 20 billion rupees. The bonds, rated AAA by CRISIL, will have a put option at the end of the third year, one of the bankers said. In November, HDFC raised 19 billion rupees through bonds maturing in 10 years at an annual coupon of 7.79%.
Company officials did not immediately respond to an email seeking confirmation of the development.
($1 = 81.2425 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Rashmi Aich)
(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.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Fri, January 20 2023. 13:33 IST
RECENT NEWS
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more