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India's Dewan Housing Finance to raise up to 20B rupees via debenture issue

Dewan Housing Finance Corp. Ltd. plans to raise up to 20 billion Indian rupees through the issuance of nonconvertible debentures.

The company said in an Aug. 30 release that it will issue 15 billion rupees of secured redeemable debentures, with a greenshoe option of up to 5 billion rupees.

The three-year notes bear a coupon of 9.27% per year.

The issue will open and close Sept. 5.

As of Aug. 30, US$1 was equivalent to 71.02 Indian rupees.