India New Issue HDFC to issue 10-year bonds and launches tender – traders – Reuters

MUMBAI, September 2 (Reuters) – India’s Housing Development Finance Corp (HDFC) (HDFC.NS) plans to raise at least 50 billion rupees ($627.26 million) from the sale of bonds with maturities of 10 years, three investment bankers said on Friday.

The non-bank financial company will pay an annual coupon of 7.80% to investors in this issue, and invited commitment offers on September 5, they said.

The notes are rated AAA by ICRA and CRISIL, and the issue will close for subscription next week.

The issue has a greenshoe option to keep an additional Rs 50 billion.

($1 = 79.7120 Indian rupees)

Reporting by Dharamraj Lalit Dhutia; Editing by Subhranshu Sahu

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