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Housing Development Finance to issue 20B rupees of debentures

Housing Development Finance Corp. Ltd. plans to issue 20 billion Indian rupees of secured redeemable nonconvertible debentures in a private placement.

The company said June 6 that the debentures bear an annual coupon of 7.60% and mature June 26, 2020. The issue will open June 8 and close the same day.

Proceeds from the issuance will be used to finance and refinance the company's housing finance business requirements.

As of June 6, US$1 was equivalent to 64.44 Indian rupees.