HDFC Life Insurance to raise up to Rs 350 crore debt capital via bonds
HDFC Life Insurance Company on Friday said it will raise debt capital of up to Rs 350 crore by issuing bonds on a private placement basis.
The Capital Raising Committee of the company’s board approved a proposal for raising up to Rs 350 crore through issuance of 3,500 non-convertible debentures, HDFC Life said in a regulatory filing.
The company said the bonds will carry coupon rate of 8.20 per cent per annum.
The bonds will be listed on wholesale debt market segment of NSE, it said.
HDFC Life stock was trading at Rs 550 on BSE, down 3.69 per cent from the previous close.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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