SEC filing indicates that HDFB Securities is preparing to issue about $2 billion US equity linked debt.
The Securities and Exchange Commission said Friday that the company will issue its first equity linked bond this year, with the debt due in 2023.
The bonds will be backed by HDFs corporate debt, according to a filing with the SEC.
The company has $2 trillion in cash on hand and is expected to be profitable by 2021, the filing said.HDFB, which is one of the world’s largest bond issuers, will not immediately issue bonds.
Rather, the company plans to issue bonds through the issuance of common stock and bonds issued by its subsidiaries.
HDFS is in talks with lenders to sell its debt, the SEC said.
A HDFS spokesman did not immediately respond to a request for comment.
An SEC spokeswoman declined to comment on the timing of the announcement.
Forbes.com’s Jim Dwyer reported in January that HdfB Securities had a $1.9 billion market cap, according a Bloomberg report.
Earlier this month, a senior executive at the California-based HDFE Energy Company told the Financial Times that the $1 billion bond issuance would not be completed until the end of 2021.
The company, which has about $1 trillion in assets, had previously said it would issue the bonds in 2026.