HDFC to raise around Rs 500-crore through NCD issue

MUMBAI: Country's premier home loan financer, Housing Development Finance Corporation (HDFC) plans to raise around Rs 500-crore through the issue of non- convertible Debentures (NCD) next week, sources said.

This would be done through the issuance of 10-year maturity debentures which would carry a rate of 9.9 per cent, an official said.

"This would be a Rs 200-crore issue and would have a green shoe option. Together the issue size will be around Rs 500-crore," the official said.

Kotak Mahindra will act as the sole lead arranger of the issue.