By Susanna Moon
Chicago, July 28 – Housing Development Finance Corp. Ltd. priced Rs. 5 billion of 8.2% secured redeemable debentures due 2021 at par of Rs. 1 million each in a private placement.
The notes have an effective rate of 7.91%, according to a term sheet.
Axis Bank Ltd. is the arranger.
The company notified the Bombay Stock Exchange on July 27 that it plans to issue Rs. 350 billion of bonds in a private placement.
The Mumbai-based issuer provides housing finance to individuals and lease finance facilities to the corporate sector for plant and machinery, energy generation and other assets.
| Issuer: | Housing Development Finance Corp. Ltd.
|
| Issue: | Secured redeemable debentures
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| Amount: | Rs. 5 billion
|
| Maturity: | July 29, 2021
|
| Coupon: | 8.2%, with effective rate of 7.91%
|
| Lead arranger: | Axis Bank Ltd.
|
| Call: | Non-callable
|
| Ratings: | Crisil Ltd.: AAA
|
| ICRA Ltd.: AAA
|
| Settlement date: | July 29
|
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