Housing Development Finance Corp. Ltd. plans to issue 10 billion Indian rupees of nonconvertible debentures in a private placement.
The company said the secured debentures bear a coupon rate of 7.20% per year and are due June 26, 2018. The issue will open June 1 and will close the same day.
Proceeds from the issuance will be used for financing and refinancing the company's housing finance business requirements.
As of May 30, US$1 was equivalent to 64.57 Indian rupees.