HDFC Bank has successfully completed the issuance of US$1,750 million in Senior Unsecured Bonds through its GIFT City Branch. The issuance comprised two tranches: US$500 million with a 3-year tenor and a 5.159% coupon, and US$1,250 million with a 5-year tenor and a 5.401% coupon. These bonds are listed on India INX and NSE International Exchange, diversifying the bank’s funding base.
HDFC Bank Completes Major Offshore Debt Issuance
HDFC Bank Limited has announced the successful completion of a significant offshore debt issuance, raising a total of US$1,750 million (approximately ₹14,580 crore). The issuance was conducted through HDFC Bank’s GIFT City Branch, underscoring its growing international financing capabilities. The bonds are classified as Senior Unsecured Fixed Rate Notes and were offered under the 144A / Regulation S framework.
Key Details of the Bond Issuance
The issuance was divided into two distinct tranches, each with specific terms and tenors:
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First Tranche:
- Issue Size: US$ 500 Million
- Tenor: 3 years
- Coupon: 5.159% (Semi-Annual, 30/360)
- Maturity: 26 August 2029
- Issuer Ratings: Baa3 (Stable) / BBB (Stable) by Moody’s / S&P
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Second Tranche:
- Issue Size: US$ 1,250 Million
- Tenor: 5 years
- Coupon: 5.401% (Semi-Annual, 30/360)
- Maturity: 26 August 2031
- Issuer Ratings: Baa3 / BBB by Moody’s / S&P
Listing and Regulatory Compliance
The Senior Unsecured Bonds are listed on both the India INX (India International Exchange (IFSC) Limited) and the NSE International Exchange (NSE-IX). This listing ensures compliance with international exchange regulations and provides liquidity for investors. The issuance aims to strengthen HDFC Bank’s long-term funding profile and support its continued growth and expansion initiatives.
The bank also confirmed that the Subscription Agreement with the appointed Lead Managers for the Issue has been executed.
Source: BSE
