Housing finance major HDFC will raise Rs 800 crore by issuing non-convertible debentures (NCDs) to shore up its long-term resources. The company will issue secured redeemable NCDs on a private placement basis to raise Rs 800 crore, HDFC said in a regulatory filing. "The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilized for financing/refinancing the housing finance business requirements of the Corporation," it said. The bonds would yield 7.48 per cent per annum and are set to mature on February 18, 2020. The issue opens for subscription on January 18.
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