News From Press HDFC, SBI Life buy 18.5% in IDFC Infra Debt Fund

HDFC, SBI Life buy 18.5% in IDFC Infra Debt Fund

Source: Business Standard Jul 1, 2016

Housing Finance Development Corporation (HDFC) andSBI Life Insurance have together taken an 18.5 per cent stake in IDFC Infra Debt Fund, an infrastructure refinancing unit of IDFC.

IDFC Infra plans to raise up to Rs 1,000 crore through non-convertible debentures (NCDs), to provide refinancing support to operating infrastructure projects. It also plans to raise short-term funds of Rs 200 crore through commercial paper.

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