HDFC Life Insurance plans to raise Rs 1,000 cr via NCDs to fund growth
The debenture of tenure 10 years would carry a coupon rate of 8.05 percent per annum, it said.
HDFC Life Insurance plans to raise Rs 1,000 cr via NCDs to fund growth
HDFC Life Insurance on Wednesday said the insurer plans to raise Rs 1,000 crore through non-convertible debentures to fund business growth. The decision was taken by the Capital Raising Committee (CRC) of the HDFC Life Insurance Board, the insurer said in a regulatory filing.
The fund would be raised through unsecured, rated, listed, subordinated, redeemable, fully paid up, non-cumulative, non-convertible debentures (NCDs) for an aggregate nominal value of Rs 1,000 crore on a private placement basis, it said.
The debenture of tenure 10 years would carry a coupon rate of 8.05 percent per annum, it said.
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The debentures shall be listed on the WDM (Wholesale Debt Market) segment of the National Stock Exchange of India Ltd.
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