HDFC Bank Limited has officially elected to exercise its call option to redeem its outstanding INR 7,39,00,00,000 Additional Tier 1 Notes. The redemption will occur on September 30, 2026, at 100% of the principal amount outstanding, along with accrued and unpaid interest. This action impacts the bank’s capital structure and debt management strategy.
HDFC Bank Exercises Call Option on Additional Tier 1 Notes
HDFC Bank Limited announced today that it has decided to exercise its call option on its issued INR 7,39,00,00,000 Additional Tier 1 Notes. These Rupee Denominated bonds were originally issued on September 30, 2021.
Redemption Details
The redemption date for these notes is set for September 30, 2026, which is the first call date. The bonds will be redeemed at 100% of the principal amount outstanding. In addition to the principal, bondholders will receive accrued and unpaid interest/distributions up to, but excluding or including as applicable, the redemption date, as per the terms and conditions of the bonds. The securities involved are the Additional Tier 1 Notes sold under Regulation S, with ISIN XS2392409681.
Notice to Trustee and Bondholders
A formal instruction to issue a notice of redemption to all eligible bondholders has been sent to the Trustee, Citibank, N.A., London Branch. This process aligns with the prescribed timelines and modes of delivery outlined in the bond agreement.
Source: BSE
