Bloomberg News

Housing Development Said to Sell 12 Billion Rupees of Notes

October 11, 2011

(Updates with attempt to reach HDFC in final paragraph.)

Oct. 11 (Bloomberg) -- Housing Development Finance Corp., India’s largest mortgage lender, raised 12 billion rupees ($243 million) selling 91-day commercial paper, said a person with direct knowledge of the matter.

The Mumbai-based lender sold the notes to yield 9.5 percent, the person said, declining to be identified before an announcement.

V. Srinivasa Rangan, executive director at HDFC, wasn’t available to answer queries in two calls made to his office telephone.

--Editor: Abhay Singh

To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net

To contact the editor responsible for this story: Arijit Ghosh at aghosh@bloomberg.net


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