HDFC to raise Rs500 crore through bonds

Mumbai: Housing Development Finance Corp Ltd will raise Rs500 crore through a bond issue, merchant banking sources familiar with the developments said.

They said the housing finance major will issue three-year bonds with a coupon of 8.95 per cent payable annually. The issue will open and close on October 29, a day before the Reserve Bank''s monetary policy review, they said.

The issue will have a greenshoe option of Rs250 crore, they said.