HDFC readies MTN programme to raise up to $750 mn

MUMBAI: Mortgage major HDFC today said it has established a Medium Term Note Programme ( MTN Programme) to raise up to $750 million through debt instruments in international capital markets.

In a stock exchange filing, the Housing Development Finance Corporation said "the Corporation has, on February 14, 2017, established a MTN Programme for an amount of up to $750 million, in order to enable the Corporation to issue debt instruments in the international capital markets subject to regulatory approvals".

It further said that the establishment of the MTN Programme is only an enabling step and presently no instruments are being issued by the Corporation.

The mortgage firm said it would appropriate intimations to the stock exchanges as and when it issues any instruments pursuant to the Programme.

HDFC's share closed at Rs 1398.20 a piece on BSE, up 0.29 per cent.