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HDFC to raise Rs. 1340 crore through Bonds

Mortgage lender HDFC will raise Rs. 1,340 crore through an issue of bonds on private placement basis.
•    The bonds in the nature of secured redeemable non-convertible debentures will bear coupon rate of 7.67 per cent annually.
•    "The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," it said in a regulatory filing. 
•    The issue opens on Friday and closes on the same day.
•    Axis Bank is the arranger of the issue.
•    HDFC stock closed 0.10 per cent down at Rs. 1392.20 on BSE.
•    HDFC Bank is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. 
•    It has about 76,286 employees including 12,680 women and has a presence in Bahrain, Hong Kong and Dubai.

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