India’s Housing Development Finance OKs Rs. 50 billion debentures

By Tali Rackner

Norfolk, Va., Oct. 5 – Housing Development Finance Corp. Ltd. informed the Bombay Stock Exchange that its board of directors met on Monday and approved the allotment of Rs. 50 billion of nonconvertible debentures due March 2017.

The 5,000 debentures carry a coupon of 1.43% per annum, payable annually.

The board also approved the issue of 36.5 million warrants at an exercise price of Rs. 1,475 per equity share for a period of 36 months.

Housing Development Finance provides housing finance to individuals and lease finance facilities to the corporate sector for plant and machinery, energy generation and other assets.

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