HDFC Announces Fresh Bond Sale

Housing Development and Finance Corporation (HDFC) has announced a fresh sale of fixed income bonds.

Following this decision, the company has published their prospectus as well.
This is the second time, HDFC is issuing bonds on a conventional basis.

As per the prospectus issued, HDFC will issue 10,000 bonds at MVR 10,000 per bond. HDFC aims to raise MVR 100 million from the sale of bonds. The bonds will have a maturity period of 10 years at a coupon rate of seven percent.

Subscription for these bonds are scheduled to open on the 3rd of next month and will close on 24th.

Interest parties can subscribe through Maldives Securities Depository’s Infinity portal.

Last year, HDFC issued bonds through the Sukook method. These bonds were sold for MVR 1,000 with a return of 65 percent for a period of 10 years. Proceeds from this Sukook sale were to be disbursed to their buyers every six months.

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