March 6, 2013 / 5:26 AM / 5 years ago

HDFC plans to raise up to 11.5 bln rupees through bond sales

MUMBAI, March 6 (Reuters) - Housing Development Finance Corp , India’s biggest mortgage lender, plans to raise up to 11.50 billion rupees ($209.68 million) through two separate bond deals, a source with direct knowledge of the matter said.

The company will raise 5 billion rupees through 1-year 1-day bonds at 9.50 percent, said the source, adding HSBC was the sole arranger to the bond sale.

HDFC is also raising up to 6.5 billion rupees through 14-month papers, the source said.

It will pay a coupon of 9.50 percent with an annualised yield of 9.43 percent and Credit Suisse is an investor in the deal, the source added.

$1 = 54.8450 Indian rupees Reporting by Archana Narayanan; Editing by Anupama Dwivedi

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