<p>HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis.</p>.<p>The base issue size for the secured redeemable non-convertible debentures (NCDs) is Rs 5,000 crore with option to retain oversubscription of up to Rs 2,000 crore, HDFC said in a regulatory filing.</p>.<p>The country's largest mortgage lender will offer coupon rate of 6 per cent per annum on the bonds, the issue for which opens on May 28, 2021. The issue will close on the same day.</p>.<p>"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," it said.</p>.<p>The bonds have a tenor of 4 years and 363 days, and the redemption date is set as May 29, 2026. The arranger of the issue is Axis Bank.</p>.<p>HDFC stock closed 0.45 per cent lower at Rs 2,528.90 on BSE.</p>
<p>HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis.</p>.<p>The base issue size for the secured redeemable non-convertible debentures (NCDs) is Rs 5,000 crore with option to retain oversubscription of up to Rs 2,000 crore, HDFC said in a regulatory filing.</p>.<p>The country's largest mortgage lender will offer coupon rate of 6 per cent per annum on the bonds, the issue for which opens on May 28, 2021. The issue will close on the same day.</p>.<p>"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," it said.</p>.<p>The bonds have a tenor of 4 years and 363 days, and the redemption date is set as May 29, 2026. The arranger of the issue is Axis Bank.</p>.<p>HDFC stock closed 0.45 per cent lower at Rs 2,528.90 on BSE.</p>