HUDCO Raises ₹3,742 Cr In Uncommon Yen Debt Transaction: Report
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In a rare move, the state-owned Housing and Urban Development Corporation (Hudco) has managed to secure $448 million (around ₹3742 crore) in Yen debt.

What Happened: Hudco has successfully raised a substantial amount in Yen debt, a rare occurrence for a state-owned firm, the Economic Times reported. The funds procured will be utilised for lending purposes in India.

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Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp and Mizuho Bank, Japan’s three largest banking groups in terms of assets partnered together to finance the deal. ET reported the five-year loan was priced at 70 basis points above the interbank benchmark rate in Japan.

The report said the landed cost of the loan after hedging would come at less than 7% which is less than the cost for a tenure loan in the domestic market.

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