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Money Nov 1, 2012

LIC Housing to raise Rs 400 crore in bond sale

AFP

LIC Housing Finance plans to raise at least Rs400 crore ($74.36 million) in a two-tranche bond sale, two sources with direct knowledge of the deal said on Thursday.

The company is planning to raise minimum Rs 200 crore through three-year bonds at 9.38 percent, said a source, adding that Axis Bank is the arranger to the deal.

Separately, it is raising at least Rs 200 crore through two-year bonds at 9.37 percent, another sources said. HDFC Bank is the sole arranger to the deal.

Reuters

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