India's Largest Private Sector Bank Raises USD 750 Million Through International Bond Issuance; Check Details
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HDFC Bank has completed a USD 750 million senior unsecured bond issuance through its GIFT City IFSC Banking Unit, with the notes carrying a fixed coupon of 5.067 per cent and maturing in June 2031
✨ Key Takeaways
On Wednesday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index gaining 92.70 points, or 0.39 per cent, to 24,081.85. Amid the broader market strength, HDFC Bank share price traded at Rs 790.50, up 5.60 points or 0.71 per cent from the previous close, after the bank completed a USD 750 million senior unsecured bond issuance through its GIFT City IFSC Banking Unit.
HDFC Bank Completes USD 750 Million Bond Issuance
HDFC Bank Limited has completed the issuance and allotment of USD 750 million senior unsecured notes in international debt markets through its IFSC Banking Unit located at GIFT City. The USD-denominated bonds have a tenor of five years, with allotment dated June 24, 2026, and maturity scheduled for June 24, 2031.
The notes carry a fixed coupon rate of 5.067 per cent per annum, payable semi-annually on June 24 and December 24 every year, with the first interest payment due on December 24, 2026.
Bonds To Be Listed On IFSC Exchanges
The senior unsecured notes are proposed to be listed on India International Exchange (IFSC) Limited and NSE IFSC. The bonds are expected to receive investment-grade ratings of Baa3 from Moody’s Ratings and BBB from S&P Global Ratings.
The issuance was executed through the bank’s GIFT City IFSC Banking Unit, highlighting HDFC Bank’s continued access to global funding markets and diversified borrowing channels.
Proceeds To Support Banking Activities
According to the disclosed terms, the proceeds from the bond issuance will be utilised for banking activities. The notes rank as senior unsecured obligations of HDFC Bank and do not carry any security or charge over the bank’s assets.
The bank also clarified that the instrument does not confer any special rights, interests or privileges on bondholders. Any delay in payment of interest or principal beyond three months from the due date, or any payment default, will be governed in accordance with the terms and conditions of the notes.
HDFC Bank Additional Details
The issuance was disclosed to BSE Limited and the National Stock Exchange of India Limited under SEBI's Listing Obligations and Disclosure Requirements.
With this transaction, HDFC Bank has raised USD 750 million through a five-year senior unsecured bond carrying a fixed coupon of 5.067 per cent, further strengthening its overseas borrowing profile through the IFSC route.
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About HDFC Bank
HDFC Bank Ltd is one of India's largest private sector banks. The bank offers a wide range of banking and financial services across retail banking, wholesale banking, treasury operations, insurance, asset management, broking and other financial services.
As of March 31, 2025, HDFC Bank operated 9,455 branches, including five overseas branches, and 24,854 banking outlets across India. The network was supported by 21,139 ATMs and Cash Recycler Machines and 15,399 Business Correspondents.
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Disclaimer: The article is for informational purposes only and not investment advice.