HUDCO raises Rs. 1300 crore through private placement issue(s) of Unsecured, Redeemable, Non-convertible Bonds

New Delhi, September 29, 2016: Housing & Urban Development Corporation Limited (HUDCO), a wholly owned Govt. of India enterprise, has raised a sum of Rs 1300 crore through private placement issue(s) of Unsecured, Redeemable, Non-convertible bonds at lowest possible interest rates. While the issue of Rs 700 crore was raised at 7.36% on September 16, 2016, the second tranche of Rs 600 crore was mopped up at 7.35% on September 22, 2016.

The applicable coupon was even less than the Reuters Benchmark rates for ‘AAA’ rated papers of matching maturity. The said bonds would fall due for maturity on 30th November, 2019 and 22nd January, 2020, respectively.

The above bond issue(s) have been rated ‘IND AAA’ by India Ratings and Research Private Limited (Fitch Group) with Stable outlook, ‘CARE AAA’ by CARE Ratings and ‘[ICRA] AAA’ (Stable) by ICRA Ratings. Instruments with this rating are considered to offer highest safety for timely servicing of debt obligations and carry lowest credit risk.

These Bonds are now listed on Wholesale debt market (“WDM”) segment of the BSE Limited.

HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects throughout the country.

Corporate Comm India(CCI Newswire)