LIC Housing Fin, HDB Finance reduce fundraise sizes on hardening yields

LIC Housing raises 1,150 cr against Rs 3,000 cr planned

Abhijit Lele | Mumbai
Last Updated at February 23, 2023 22:51 IST

According to bond market dealers, issuers are finding it tough to raise the targeted amount as investors are holding back commitments in the hope of getting higher rates

After State Bank of India (SBI) slashed fundraise through tier I bonds on hardening yields, LIC Housing Finance raised Rs 1,150 crore against an indicated up to Rs 3,000 crore via 10-year bonds. The base issue was Rs 1,000 crore and greenshoe option of Rs 2,000 crore. The mortgage lender fixed a coupon of 7.95 per cent.

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