By Angela McDaniels
Tacoma, Wash., Dec. 6 – Housing Development Finance Corp. Ltd. priced Rs. 10 billion of series Q-013 senior secured debentures to yield 7.38% per year, according to a letter to BSE Ltd. and National Stock Exchange of India Ltd.
The zero-coupon debentures priced at par. The redemption amount at maturity will be 126.0316% of par.
The debentures were issued in a private placement. They are not callable or putable.
Proceeds will be used to finance or refinance the housing finance business requirements of the company.
The bonds will be listed on BSE and the National Stock Exchange of India.
The Mumbai-based issuer provides housing financing to individuals and lease finance facilities to the corporate sector.
| Issuer: | Housing Development Finance Corp. Ltd.
|
| Issue: | Series Q-013 senior secured debentures
|
| Amount: | Rs. 10 billion
|
| Maturity: | March 9, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Repayment at maturity: | 126.0316% of par
|
| Effective yield: | 7.38% per year
|
| Call option: | None
|
| Put option: | None
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 9
|
| Ratings: | Crisil: AAA
|
| ICRA: AAA
|
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