MUMBAI: Housing Development FinanceBSE -0.31 % Corp. (HDFC) has developed a taste for masala bonds. Weeks after India's largest mortgage lender sold out its first issuance of rupee-denominated debt to overseas buyers, it's planning to raise another Rs 2,000 crore through the same route, underscoring a trend that's gaining momentum. HDFC's masala bond sale last month was the first by an Indian company.
The home loan provider is in talks with investment bankers to launch the issue in the next three to six weeks, three people with knowledge of the matter told ET. HDFC didn't respond to emailed questions till press time.
The home loan provider is in talks with investment bankers to launch the issue in the next three to six weeks, three people with knowledge of the matter told ET. HDFC didn't respond to emailed questions till press time.
"The company will soon appoint bankers based on bids received from them. The second bond sale is likely only after the new governor assumes charge at RBI," said one of the persons cited above. Urjit Patel will take over from Raghuram Rajan as Reserve Bank of India governor early next month, the government said on Saturday. The appointment is expected to clear policy uncertainties, boosting the confidence of overseas investors.
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