The Urban Development Authority (UPA) is working with the People’s Bank to launch its Rs. 10 billion debenture issue by mid October, officials said.
“It’ll be a public offer and the rate will be at in the 9.5 per cent range,” a senior official told the Business Times, adding that this is government backed and is for five years. “This will be used for low cost housing.”
The official said next year they intend to launch a Rs. 20 billion debenture also for low-cost housing. “Depending on the requirement, we’ll go up to Rs. 50 billion (in debentures) in the following year,” he said.
“It’ll be a public offer and the rate will be at in the 9.5 per cent range,” a senior official told the Business Times, adding that this is government backed and is for five years. “This will be used for low cost housing.”
The official said next year they intend to launch a Rs. 20 billion debenture also for low-cost housing. “Depending on the requirement, we’ll go up to Rs. 50 billion (in debentures) in the following year,” he said.
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