Housing Finance Development Corporation’s (HDFC) rupee-denominated offshore bonds received healthy response from investors as the issue was subscribed more than four times. The mortgage financier raised Rs.3,000 crore by issuing these bonds, also known as >masala bonds . The debta bears a fixed semi-annual coupon of 7.875 per cent per annum with a tenor of 3 years and 1 month. HDFC exercised the green shoe option of Rs.1,000 crore. “The all-in annualised yield to the investors is 8.33 per cent per annum. This rate is five basis points lower than the last domestic issue by HDFC on July 12, 2016,” according to a company statement. The bonds will be listed on the London Stock Exchange and cannot be traded in the Indian market.