By Susanna Moon
Chicago, Aug. 12 – Housing Development Finance Corp. Ltd. priced Rs. 20 billion of secured redeemable debentures in two equal tranches due 2019 and 2026.
The notes will be sold at par of Rs. 10 million each in a private placement, according to the term sheets.
The series Q-002 notes have a coupon of 7.95% and a tenor of about three years with Axis Bank Ltd. as the arranger.
For the series Q-003 notes, the coupon is 7.9%, the tenor is 10 years and the arranger is Trust Investment Advisors Private Ltd.
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 financing 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
|
| Amount: | Rs. 20 billion
|
| Ratings: | Crisil Ltd.: AAA
|
| ICRA Ltd.: AAA
|
| Announcement date: | Aug. 11
|
|
|
| Series Q-002 notes
|
| Amount: | Rs. 10 billion
|
| Maturity: | Sept. 23, 2019
|
| Coupon: | 7.95%
|
| Arranger: | Axis Bank Ltd.
|
| Issue date: | Aug. 23
|
|
|
| Series Q-003 notes
|
| Amount: | Rs. 10 billion
|
| Maturity: | Aug. 24, 2026
|
| Coupon: | 7.9%
|
| Arranger: | Trust Investment Advisors Private Ltd.
|
| Issue date: | Aug. 24
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
