The Housing Development Finance Corp is likely to raise up to Rs 15,000 crore ($1.84 billion) through bonds maturing in 10 years, three merchant bankers said on Thursday.
The proposed issue is likely to have a base size of Rs 110 billion and a greenshoe option to retain an additional subscription of Rs 40 billion, bankers added.
The housing financier is likely to offer a coupon of 7.80 per cent on this bond issue, for which it plans to invite bids from investors and bankers next week, they said.
HDFC is yet to make an official announcement of the planned bond sale on electronic bidding platforms and did not immediately respond to a Reuters request for comment. The bonds are rated AAA by CRISIL and India Ratings.
Last week, HDFC raised Rs 30.05 billion via bonds maturing in 1 year, 10 months and eight days at a coupon of 7.79 per cent. The latest issue comes, as the company is set to merge with HDFC Bank in the coming months.
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