Dewan Housing Finance Corp. Ltd. issued 5 billion Indian rupees of nonconvertible perpetual debentures on a private placement basis.

The company said Aug. 3 that the unsecured subordinated debentures bear a coupon of 9.85% per year. The debentures will have a call option after 10 years and every year thereafter.

As of Aug. 3, US$1 was equivalent to 63.68 Indian rupees.