Rs 12K crore to be raised by DHFL

Rs 12K crore to be raised by DHFL
23/05/2018 , by , in News/Views

Housing finance firm DHFL issued bonds on Tuesday to raise up to Rs 12,000 crorefor onward-lending to push growth. In the current financial year they are targeting 30 per cent growth in loan disbursements. In the earlier financial year DHFL had disbursed Rs 44,800 crore.

On Tuesday, the company will offer up to 12 crore secured redeemable non-convertible debentures (NCDs) for Rs 3,000 crore with a green shoe option of up to Rs 9,000 crore. The issue is scheduled to close on June 4 and the company added that early closure or extension as decided by the board of directors of the company or the NCD public issue committee can also happen.

The allotment of bonds will be on first-come, first served basis and will come up in six series in a tenure ranging from 3, 5, 7, 10 years offering coupon rate of 8.56-9.10 per cent. The company is also offering an additional 0.10 per cent benefit on coupon rate to the senior citizens.

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