HDFC launches bond sale worth Rs 25,000 cr to meet biz requirements

The 10-year benchmark government bond settled at 7.37 per cent yield on Tuesday

Leading housing finance firm HDFC Ltd has launched a bond sale worth Rs 25,000 crore, marking the largest ever debt issuance plan by an Indian company.

"We launched a Rs 5,000-crore NCD (non-convertible debenture) issuance with a green-shoe option of up to Rs 20,000 crore through the electronic bidding platform. This amount is being raised to meet our business requirements," V S Rangan, executive director of HDFC Ltd, told Business Standard.

Debt capital market officials said the HDFC bonds were of 10-year maturity and the expectation for the coupon — the rate of interest paid to investors — was around