HDFC Life Insurance Company on Friday said it will raise debt capital of up to ₹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 ₹350 crore through issuance of 3,500 non-convertible debentures, HDFC Life Insurance said in a regulatory filing.
The insurance major said the bonds will carry coupon rate of 8.20 per cent per annum. The bonds will be listed on wholesale debt market segment of NSE, it said. The HDFC Life Insurance stock closed at ₹550 on the BSE, down 3.48 per cent from the previous close.