HUDCO plans to raise up to Rs 2,190 cr through issue of debentures

State-owned Housing and Urban Development Corporation Limited (HUDCO) plans to raise up to Rs 2,190 crore through issue of debentures. In a regulatory filing on Tuesday, the company said that the the 'Bond Allotment Committee' has approved the raising of debentures as unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs (non-convertible debentures) of face value of Rs 1,00,000 each aggregating up to Rs 2,190 crore on private placement basis."

Bonds are redeemable at par at the end of 5th year with interest payment on yearly basis at a coupon rate of 6.9 per cent.

HUDCO is engaged in financing of housing and infrastructure projects.