Monday, August 1, 2016

#DHFL to raise Rs 4,000 cr. via CPI linked debentures

DHFL plans to mop up up to Rs 4,000 crore through a maiden issue of non-convertible debentures (NCDs) with an the option of linking the coupon with CPI or Consumer Price Index (Inflation). The issue size is Rs 1,000 crore with an option to retain over-subscription of up to Rs 4,000 crore.The proceeds of issue will be used for onward lending, financing and debt reduction.The issue opens for subscription on August 3rd and closes on August 16th.

The annual yield of the NCD issue would go up to 9.2-9.3 per cent, depending upon the class of investors.