India's Housing Development Finance Corp. Ltd. plans to raise 25 billion rupees by issuing secured redeemable nonconvertible debentures on Dec. 27.

The debentures are due Dec. 30, 2022, and will be issued in a private placement. The debentures will carry a coupon rate of 7.21% per year.

The company plans to use proceeds from the issuance to finance or refinance business requirements, according to a Dec. 24 filing.

As of Dec. 24, US$1 was equivalent to 71.24 Indian rupees.