India New Issue-HDFC invites bids for 10-year bonds on Tuesday - bankers

Housing Development Finance

19/05/2023 13:22

MUMBAI, May 19 (Reuters) - India's Housing Development
Finance Corp  HDFC.NS  plans to raise at least 35 billion rupees
($427.98 million) through the sale of bonds maturing in 10
years, two merchant bankers said on Friday.
    The company has invited bids from bankers and investors on
May 23, the bankers added.
    The bonds are rated AAA by Crisil and ICRA, and the issue
will be next week.
    The issue has a greenshoe option to retain an additional 25
billion rupees and will have a put option at end of three years.
    Earlier this week, HDFC raised 30 billion rupees via bonds
maturing in five years at a coupon of 7.70%.
    The latest issue comes as the company gets set to merge with
HDFC Bank in the coming months.


($1 = 81.7800 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Sohini Goswami
Editing by)
 ((Dharamraj.dhutia@tr.com))