HDFC raises Rs 500 cr via masala bonds

http://ripplesadvisory.com/free-trial.php Click here and watch out the best Share and Stock Market recommendations or One missed call on @9303093093

 

Mortgage lender HDFC today said it has raised Rs 500 crore through rupee-denominated bonds from overseas investors. "The corporation has completed the fourth issue of rupee denominated-bonds to overseas investors of issue size Rs 500 crore," HD said in a regulatory filing to stock exchanges. 

 

The issue carried a coupon rate of 7.25 per cent per annum payable semi-annually. The bonds will mature on January 9, 2020, HDFC said. HDFC said it has raised a total of Rs 5,000 crore through issuance of rupee-denominated bonds in four tranches. In July this year, in the first ever masala bond issue, HDFC had raised Rs 3,000 crore through rupee-denominated bonds that got over-subscribed by 4.3 times. The rupee-denominated bonds or masala bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.