Housing DevelopmentFinance Corp. Ltd. plans to issue 5 billion rupees of debentures ona private placement basis.
The secured, redeemable, nonconvertible debentures were pricedwith a coupon of zero percent per year and will have a tenor of five years.
The effective yield is 8.40% per year and the issue price isat par.
The issue will open May 10 and close the same day.
As of May 6, US$1 was equivalentto 66.51 Indian rupees.