DHFL repays Commercial Paper worth Rs.1775 crores today, November 5, 2018

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Pune, November 5, 2018: DHFL, one of India’s leading housing finance company has bought back/repaid a Commercial Paper(CP) worth INR 1775 crores today, November 5, 2018. DHFL since September 21, 2018 has repaid commercial paper holders INR 9465 crores including buyback of CP worth INR 3240 crores. DHFL has either repaid or offered to buy back all commercial papers maturing till November 15, 2018. DHFL has provided for CP maturing till November 30,2018.

DHFL’s CP outstanding as on November 30,2018 will be1percent of the total borrowing amounting to INR 1125 crores. DHFL has successfully conducted securitisation assignment of over 6600 crores since September 21, 2018.

Commenting on the buyback, Mr. Kapil Wadhawan, CMD, DHFL said, “Over the years, DHFL has maintained a strong asset quality and has been well-matched in case of the ALM position. Despite the market scenario, DHFL has been committed towards honouring all the financial obligations without any delays. DHFL has taken strong steps to rebalance its loan growth profile, maintain sufficient liquidity and strengthen its core balance sheet. As one of the significant steps towards this direction, we bought back/repaid several Commercial papers totalling to INR 9465 crores from September 21 to November 5, 2018. DHFL continues to enjoy high credit ratings from esteemed rating agencies.”

DHFL is in the process of raising much more resources to increase the liquidity level so that the company continues to remain well-equipped to meet all the financial obligations. DHFL’s borrowings are well diversified with a banking consortium of 31 banks, NCDs, CPs, ECB, masala bonds and retail public deposits.

As of October 2018, DHFL’s credit ratings have been reaffirmed by leading rating agencies indicating a very high degree of safety of DHFL’s bonds, Commercial Papers and Corporate Deposits. CRISIL reaffirmed A1+ ratings for DHFL Commercial paper programme for Rs. 15,000 crore. ICRA reaffirmed A1+ rating indicating a very strong degree of safety regarding timely payment of the Company’s financial obligations. CARE reaffirmed AAA rating (Outlook: Stable) for DHFL’s short and long term borrowings including Fixed Deposits