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Mumbai: Mortgage lender HDFC has raised ₹8,235 crore through the issuance of two-year bonds at a coupon rate of 7.80% in a sale on Wednesday, sources said.
The mortgage financier had planned a bond sale with a base size of ₹5,000 crore and an additional subscription option of ₹5,000 crore.
ICICI Bank was the arranger for the issue, according to an exchange filing by HDFC ahead of the sale.
The debt issue is part of the ₹57,000 crore fundraising plan approved by HDFC's board of directors at its meeting held on March 27, 2023.
HDFC Bank on April 4 last year agreed to take over the domestic mortgage lending giant in a deal valued at about $40 billion.
Meanwhile, LIC Housing Finance also raised funds worth ₹1,500 crore through a sale of five-year bonds on Wednesday. The coupon for the bonds was set at 7.68%, sources said.
The mortgage financier had planned a bond sale with a base size of ₹5,000 crore and an additional subscription option of ₹5,000 crore.
ICICI Bank was the arranger for the issue, according to an exchange filing by HDFC ahead of the sale.
The debt issue is part of the ₹57,000 crore fundraising plan approved by HDFC's board of directors at its meeting held on March 27, 2023.
HDFC Bank on April 4 last year agreed to take over the domestic mortgage lending giant in a deal valued at about $40 billion.
Meanwhile, LIC Housing Finance also raised funds worth ₹1,500 crore through a sale of five-year bonds on Wednesday. The coupon for the bonds was set at 7.68%, sources said.
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(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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