India New Issue-HDFC accepts bids of 30 bln rupees for near 2-year bonds - bankers

Housing Development Finance

21/04/2023 09:08

MUMBAI, April 21 (Reuters) - India's Housing Development
Finance Corp  HDFC.NS  has accepted bids worth 30.05 billion
rupees ($365.7 million) for bonds maturing in 1 year, 10 months
and 8 days, three merchant bankers said on Friday.
    The housing financier will pay a coupon of 7.79% on this
bond issue for which it had invited bids earlier in the day.
    The bonds are rated AAA by Crisil and India Ratings and the
issue will be settled on Monday. The notes will mature in March
2025.
    ICICI Bank is the sole arranger to the issue.
    In February, HDFC raised 250 billion rupees through bonds
maturing in 10 years at a coupon of 7.97%, and has raised an
aggregate of over 784 billion rupees through bonds in the last
financial year.
    The latest issue comes, as the company is set to merge with
HDFC Bank Ltd  HDBK.NS  in the coming months.

($1 = 82.1675 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Varun H K)
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