HDFC receives $400-million loan for green finance

Housing Development Finance Corporation (HDFC) on Friday said it is raising $400 million through a loan from the International Finance Corporation for financing green housing affordable segment.

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HDFC will use 75% of the loan proceeds for financing affordable green projects. The company will set a lending framework for such loans with strict standards for green buildings, a statement said. On an assets under management (AUM) basis, the company’s individual loan book, which constitutes 81% of total AUM, grew 20% YoY. HDFC’s total AUM stood at Rs 6.9 trillion as of September 30.

HDFC in November had raised Rs 5,500 crore through non-convertible debentures at a coupon rate of 7.70% per year. The company’s capital adequacy stood at 22.5% as of September 30 with tier-I capital at 21.9%.