HDFC, Nabard and NHB Raise Rs 14,000 Crore in Debt Funds
Based on sources, HDFC would likely offer up to Rs 7,000 crore in one-year ten-month notes on Friday, the first such sale in the current fiscal year.
On Friday, the National Housing Bank (NHB) and the National Bank for Agricultural and Rural Development (Nabard) are also expected to enter debt capital markets. According to reports, NHB plans to sell three-year notes worth up to Rs 2,000 crore, while Nabard plans to sell bonds worth up to Rs 5,000 crore.
The initial size of HDFC's bond offering is Rs 2,000 crore, with an option to retain an additional Rs 5,000 crore. The housing lender has gone on a bond-buying binge in order to raise funds for its merger with HDFC Bank
According to sources, HDFC would likely offer up to Rs 7,000 crore in one-year ten-month notes on Friday, the first such sale in the current fiscal year.
On Friday, the National Housing Bank (NHB) and the National Bank for Agricultural and Rural Development (Nabard) are also expected to enter debt capital markets. According to reports, NHB plans to sell three-year notes worth up to Rs 2,000 crore, while Nabard plans to sell bonds worth up to Rs 5,000 crore.
The initial size of HDFC's bond offering is Rs 2,000 crore, with an option to retain an additional Rs 5,000 crore. The housing lender has gone on a bond-buying binge in order to raise funds for its merger with
Following a recent dramatic decrease in government bond yields, the reference for pricing corporate debt, bond issuances for corporations have become less expensive.
Government bond yields, particularly those on shorter maturities, have fallen as a result of the Reserve Bank of India's surprising decision not to raise interest rates earlier this month.