HousingDevelopment Finance Corp. Ltd. will raise 13.60 billion Indianrupees from the issuance of secured debentures via a private placement.
The company said May 6 that the debentures were priced witha coupon of 8.38%. The debentures have a tenor of 1 year and 10 months.
Proceeds from the issuance will be used to boost thelong-term resources of the company, as well as for financing and refinancingthe housing finance business requirements of HDFC.
The issue will open May 9 and close the same day.
As of May 5, US$1 wasequivalent to 66.56 Indian rupees.