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Housing Development Finance to raise up to 50B rupees via debentures

Housing Development Finance Corp. Ltd. plans to raise up to 50 billion Indian rupees via an issuance of nonconvertible debentures on a private placement basis.

The company will issue 30 billion rupees of secured redeemable debentures, with an oversubscription option of 20 billion rupees, according to a Jan. 3 stock exchange filing.

The five-year debentures were priced with a coupon rate of 7.50% per year.

The issuance will open and close Jan. 7 and the debentures will be allotted Jan. 8.

As of Jan. 3, US$1 was equivalent to 71.78 Indian rupees.