HDFC Bank Raises $750 Mn By Issuing Senior Unsecured Bonds

HDFC Bank on Thursday said it had completed the issue of USD 750 million in Senior Unsecured Bonds, acting through its GIFT City IFSC Banking Unit.

The unsecured bonds will have a three-year maturity and the Notes will be listed on the India International Exchange (IFSC) Limited.

The final price guidance was T3+125 basis points (5.686 per cent). Meanwhile, the 3-year US treasury bill is at 4.43 per cent.

According to a media report, HDFC Bank has mandated six global banks, including HSBC, JPMorgan, Citibank, and Standard Chartered Bank.

The issue has been rated Baa3 by Moody’s Rating Services and BBB- by S&P.

In January, the country’s largest private lender had reported an 18.5 per cent year-on-year (YoY) jump in its standalone net profit at Rs 12,259 crore for the quarter ended December 31, 2022. Its consolidated net profit also jumped 19.9 per cent YoY to Rs 12,698 crore in the quarter under review.