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Dewan Housing Finance to issue 2B rupees of debentures

Dewan Housing FinanceCorp. Ltd. said April 6 that it plans to raise 2 billion Indian rupeesby issuing secured nonconvertible redeemable debentures on a private placement basis.

The debentures were priced with a coupon of 9.00% and have threeoptions for tenures of five years, seven years and 10 years.

The bonds will be listed on the National Stock Exchange of India.

As of April 6, US$1 wasequivalent to 66.62 Indian rupees.