Housing Development Finance Corp (HDFC) plans to mobilize Rs 40 billion through two- and three-year bonds along with issuing 10.95 million warrants convertible into shares within three years where the dilution on conversion of all warrants would be 3.5% and the proceeds would be used to strengthen its long-term resources. However, it is said that Rs 20 billion in two-year bonds will be sold with a coupon of 7.15% whereas another Rs 20 billion in three-year paper yielding 7.85%. Moreover, Citigroup, Goldman Sachs, Axis Bank, HSBS, JM Financial, Kotak Mahindra Capital Co and Nomura are the arrangers.
Wednesday, August 19, 2009
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