HUDCO plans to raise up to Rs 2,000 crore via Issuance of Bonds
Shares of HUDCO Ltd are trading higher by 2.18% at Rs 201.01. The dividend yield of the company is at 2.20%.
Government-backed Housing Infra firm, Housing and Urban Development Corporation Ltd (HUDCO) is planning to raise up to Rs 2,000 crore through the issue of bonds on a private placement basis.
The Bond Allotment Committee has approved the raising of bonds as unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs (non-convertible debentures) of face value of Rs 1,00,000 each aggregating up to Rs 2,000 crore on a private placement basis. The coupon rate is 7.19 per cent, the company has stated in a filing.
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While interest payment will be on an annual basis, the Bonds are redeemable at par at the conclusion of the 10th year. The base issue size is Rs 500 crore with green shoe option of Rs 1,500 crore, bringing the total issue amount to Rs 2,000 crore. With particular focus on urban development, HUDCO offers credit/finance tool to the housing and infrastructure sub-sectors/ sectors.
Shares of HUDCO Ltd are trading higher by 2.18% at Rs 201.01. The dividend yield of the company is at 2.20%.
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