HDFC Bank Raises $1.75 Billion in Record Overseas Bond Sale
· Business · Economic Times, LiveMint, Moneycontrol
HDFC Bank has raised $1.75 billion through a twin-tranche overseas bond sale, marking the largest debt capital market fundraise by an Indian financial institution. The lender secured $500 million via three-year bonds and $1.25 billion through five-year securities on Thursday. Both tranches were priced at tighter spreads than initial guidance, reflecting strong investor demand with nearly 200 orders received. The proceeds will support the bank's foreign currency non-resident (FCNR) deposits. This issuance follows a special swap arrangement announced by the RBI in June, which covers hedging costs for such deposits.
Why it matters
This record-breaking capital raise highlights strong global investor appetite for Indian banking debt and provides HDFC Bank with significant liquidity to manage its foreign currency deposit obligations.
Read the original report — Economic Times
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