Housing Development Finance Corporation Limited announced that it is planning to raise INR 8,000 million by issuing secured redeemable non-convertible debentures on private placement basis. The debentures, which have a face value of INR 10 million and a tenor of three year and one month, will be redeemed on February 18, 2020. They carry a coupon rate of 0% (effective 7.14% per annum monthly). Minimum subscription for the issue is one debenture of INR 10 million and in multiples of one debenture thereafter. The debenture issue will open and close on January 18, 2017. The object of the issue is to augment its long-term resources. The proceeds of the issue would be utilized for financing/refinancing the housing finance business of the corporation.