HDFC Life to raise up to Rs 350 cr debt capital via bonds

HDFC Life Insurance Company on Friday said it will raise debt capital of up to Rs 350 crore by issuing bonds on a private placement basis.

The Capital Raising Committee of the company's board approved a proposal for raising up to Rs 350 crore through the issuance of 3,500 non-convertible debentures, HDFC Life said in a regulatory filing.

The company said the bonds will carry a coupon rate of 8.20 percent per annum.

The bonds will be listed on the wholesale debt market segment of NSE, it said.

HDFC Life stock was trading at Rs 550 on BSE, down 3.69 percent from the previous close.