India New Problem HDFC to concern 1-year CP – merchants

MUMBAI, Jan 19 (Reuters) – India’s Housing Growth Finance Corp (HDFC.NS) plans to boost funds by issuing business papers maturing in a single 12 months, three service provider bankers stated on Thursday.

The non-banking finance firm will supply a yield of seven.88% on this concern, and has obtained commitments price 6.50 billion rupees ($79.89 million) to date, they stated.

The notes are rated A1+ by CRISIL.

($1 = 81.3600 Indian rupees)

Reporting by Dharamraj Dhutia; Modifying by Sherry Jacob-Phillips

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