By Wendy Van Sickle
Columbus, Ohio, July 29 – Housing Development Finance Corp. Ltd. priced Rs. 15 billion of 8% secured redeemable debentures due 2018 at par of Rs. 1 million each in a private placement.
The notes have an effective rate of 7.72%, according to a term sheet.
Axis Bank Ltd. is the arranger.
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.
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Issue: | Secured redeemable debentures
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Amount: | Rs. 15 billion
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Maturity: | Jan. 15, 2018
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Coupon: | 8%, with effective rate of 7.72%
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Lead arranger: | Axis Bank Ltd.
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Call: | Non-callable
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Ratings: | Crisil Ltd.: AAA
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| ICRA Ltd.: AAA
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Settlement date: | Aug. 2
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