MUMBAI (Reuters) – India’s Housing Development Finance Corp Ltd plans to raise funds through commercial papers maturing in nearly one year, three merchant bankers said on Thursday.
The housing finance company will offer a yield of 6.90% on this issue, and has received commitments worth around five billion rupees ($63.06 million), the bankers said.
The notes are rated A1+ by CRISIL and will mature in July 2023. The terms of the deal were set on Wednesday.
($1 = 79.2850 Indian rupees)
(Reporting by Dharamraj Lalit Dhutia)
