India's HDFC doubles 5-yr bond issue to $89M

India's Housing Development Finance Corp more than doubled its five-year bond issue size to at least 5 billion rupees or $89.46 million.

The mortgage lender, however, has kept the pricing unchanged at 9.70 percent for the issue, which has a greenshoe option of 2.5 billion rupees, said the sources.

"The bond is seeing commitments from mutual funds and insurers, so we have increased the issue size," a company source said.

The issuer had initially aimed to raise a minimum 2 billion rupees. ICICI Bank is the sole arranger.

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