Mumbai, March 24 (IANS) The Housing Development Finance Corporation Ltd (HDFC) on Friday announced it had raised Rs 3,300 crore ($504 million) through rupee denominated bonds from overseas investors (Masala Bonds) under its $750-million Medium Term Note programme.
"We have received an overwhelming response from 29 investors across Asia and Europe. The aggregate demand for the transaction was 2.16 times at Rs 4,315 crore ($657 million)," the company said in a regulatory filing to the BSE.
HDFC launched an issue of Rs 2,000 crore ($306 million) with a greenshoe option under the MTN programme earlier in the day.
"We closed the issue for bonds worth Rs 3,300 crore, which will yield 7.35 per cent interest per annum and payable semi-annually," it said in the filing.
The over three-year unrated bonds, which will mature on April 30, 2020, will be listed on the London Stock Exchange (LSE), it added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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