Term Sheet (Series X-006 dated 11th June, 2020)

Security Name HDFC SERIES X-006 17th June, 2030

Issuer Housing Development Finance Corporation Limited
Type of Instrument Secured Redeemable Non-Convertible Debentures
Nature of Instrument Secured
Seniority Senior
Mode of Issue Private Placement
Eligible Investors Only the persons who are specifically addressed
through a communication are eligible to apply for the
Debentures. No other person can apply.
Listing BSE Limited and National Stock Exchange of India
Limited.
Rating “CRISIL AAA” by CRISIL Ltd
“ICRA AAA” by ICRA Ltd
Issue Size (Rs.) Rs. 2,100 crore
Option to retain oversubscription (Rs.) Rs. 1,900 crore
Objects of the Issue The object of the issue is to augment the long-term
resources of the Corporation. The proceeds of the
present issue would be utilized for financing /
refinancing the housing finance business requirements
of the Corporation.
Details of the utilization of the proceeds The proceeds would be utilized for meeting the Object
of the Issue
Coupon Rate 7.25% p.a.
Step Up Coupon Rate Not Applicable
Coupon Payment Frequency Annual
Coupon Payment dates 17th June every year upto Redemption Date
Coupon Type Fixed
Coupon Reset Not Applicable
Day Count Basis Actual / Actual
Bid Opening Date June 15, 2020
Bid Closing Date June 15, 2020
Mode of Bidding Open Book
Manner of Allotment Uniform Rate
Interest on Application Money Not Applicable
Default Interest Rate Refer Additional Covenants
Tenor 10 Years
Redemption Date June 17, 2030
Redemption Amount Rs.10,00,000/- each
Redemption Premium Not Applicable
Issue Price Rs.10,00,000/- each
Discount at which security is issued and the Not Applicable
effective yield as a result of such discount
Put Option Date Not Applicable
Put Option Price Not Applicable
Call Option Date Not Applicable
Call Option Price Not Applicable
Put Notification Time Not Applicable
Call Notification Time Not Applicable
Face Value Rs.10 lakh each
Minimum Subscription Ten Debentures of Rs. 10 lakh each and in multiple of
One Debenture thereafter
Issue Opening Date June 15, 2020
Issue Closing Date June 15, 2020
Pay-in Date June 17, 2020
Deemed Date of Allotment June 17, 2020
Issuance Mode Dematerialized mode only
Trading Mode Dematerialized mode only
Settlement Mode RTGS/NEFT/Fund Transfer
Depositories NSDL/CDSL
Business Day Convention Refer “Effect on Holidays” in the Shelf Disclosure
Document
Record Date The record date will be 15 days prior to each interest
payment / principal repayment date
Security The Debentures under this Shelf Disclosure Document
are secured by executing Debenture Trust Deed (DTD)
creating mortgage on Property identified in DTD and
negative lien on the Assets of the Company except to
the extent of charge created in favour of its depositors
pursuant to the regulatory requirement under section
29B of the National Housing Bank Act, 1987. The
Company shall not transfer, sell or dispose of or create
any charge, encumbrance or any other security
interests, on any of its assets as disclosed in Original
Financial Statement to an extent required to maintain
the asset coverage as required for the Debentures under
the Disclosure Documents (“Assets”). The Assets
would be exclusively earmarked for the payments
required to be made to the Trustees for the benefit of
the Debenture Holders under the Debentures and the
Trustees shall have a legal claim and interest
(contractual or equitable) on the Assets, ranking pari
passu with such similar rights created by the Company
in favour of its other lenders and such claim and
interest of the Trustees would be exercisable through
the Power of Attorney issued to the Trustees. Provided
that the Company shall be entitled from time to time to
make further issue of debentures or any other
instruments to the public and/or private, and/or any
other person(s) and to raise further loans, advances or
such other facilities from Banks, Financial Institutions
and /or any other person(s) on the security or assets
without the consent of or intimation to Trustee.
 Provided further that the Company shall be entitled to
assign or securitize in any manner whatsoever, create
security for deposits and others and create any charge
on its Assets under any law, regulations or guidelines ,
rules or directions, etc. issued by any authority and be
free to dispose of, sell or transfer or part with any of
capital or fixed or other assets in ordinary course of
business without requiring any consent from Trustee
Transaction Documents Term Sheet
Rating Letter
Rating Rationale
Trustee Consent
Manner of Settlement Clearing Corporation Mechanism
Other Terms (if any) With reference to the Notification bearing No.
RBI/2011-12/423 A.P. (DIR Series) Circular No. 89
dated March 1, 2012 issued by Reserve Bank of India,
Foreign Exchange Department, Central Office,
Mumbai – 400 001 in respect of Foreign Institutional
Investor (FII) investment in ‘to be listed’ debt
securities, HDFC confirms that the debentures would
be listed within 15 days from the deemed date of
allotment. In case the debentures issued to the SEBI
registered FIIs / sub-accounts of FIIs are not listed
within 15 days from the deemed date of allotment, for
any reason, then HDFC would immediately redeem /
buyback the debentures from the FIIs/sub-account of
the FIIs.
Conditions Precedent to Disbursement None
Default of Payment In case of default in payment of Interest and/or
principal redemption on the due dates, an additional
interest of at least @ 2% p.a. over the coupon rate will
be paid for the defaulting period by the Corporation
Delay in Listing In case of delay in listing of the Debentures beyond 20
days from the deemed date of allotment, the
Corporation will pay penal interest of at least @ 1%
p.a. over the coupon rate from the expiry of 30 days
from the deemed date of allotment till the listing of
such Debentures to the investor
Conditions Subsequent to Disbursement None
Events of Default As per Debenture Trust Deed
Provisions related to Cross Default Clause --
Role and Responsibilities of Debenture As per Debenture Trust Deed
Trustee
Governing Law and Jurisdiction Refer “Governing Law” in the Shelf Disclosure
Document
Arrangers to the Issue (if any) ICICI Bank Limited, Axis Bank Ltd, Barclays Bank
Banking Details:

Name of the Bank HDFC Bank Limited

IFSC HDFC0000060
Current Account No NSCCL/NSE Clearing Ltd as mentioned in the NSE EBP
portal
Name of the Beneficiary NSE Clearing Limited

The Corporation reserves the right to change the series timetable

Cash flows in respect of Debenture of face value Rs.10 lakh for Series X-006

No. of days in
Cash Flows Date Amount ( in Rupees)
Coupon Period
Thursday,
1st Coupon 17 June, 2021 365 72 500
Friday,
2nd Coupon 17 June, 2022 365 72 500
Saturday,
3rd Coupon 17 June, 2023 365 72 500
Monday,
4th Coupon 17 June, 2024 366 72 500
Tuesday,
5th Coupon 17 June, 2025 365 72 500
Wednesday,
6th Coupon 17 June, 2026 365 72 500
Thursday,
7th Coupon 17 June, 2027 365 72 500
Saturday,
8th Coupon 17 June, 2028 366 72 500
Monday,
9th Coupon 18 June, 2029 365 72 500
Monday,
10th Coupon 17 June, 2030 365 72 500
Monday,
Principal 17 June, 2030 10 00 000
Total 17,25,000

The above table is illustrative and indicative. The actual dates and maturity amount will be in accordance
to and in compliance with the provisions of SEBI circular CIR/IMD/DF/18/2013 dated October 29, 2013,
and further circular issued from time to time, giving effect to actual holidays and dates of maturity which
qualifies the SEBI requirement.