India New Issue-HDFC to issue one-year CP - traders

Housing Development Finance

16/05/2023 03:31

MUMBAI, May 16 (Reuters) - India's Housing Development
Finance Corp  HDFC.NS  plans to raise funds through the sale of
commercial papers maturing in one year, three merchant bankers
said on Tuesday.
    The non-banking financial company will offer a yield of
7.75% on the issue, and has received commitments worth 32
billion rupees ($391.29 million), they said.
    The notes are rated A1+ by Crisil and the terms of the deal
were set on Monday.

    ($1 = 81.7800 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry
Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))