November 22, 2024 21:26 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma | Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police | Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws | Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing
HDFC Bank to raise $6 billion in debt over next 1 year: Report
HDFC

HDFC Bank to raise $6 billion in debt over next 1 year: Report

| @indiablooms | 11 Apr 2023, 11:52 pm

Mumbai: HDFC Bank Tuesday announced its plan to consider raising debt of 500 billion rupees (approximately $6 billion) within the next 12 months, Reuters reported.

The bank will deliberate on the potential fundraise during its board meeting on Saturday, during which it will also report its financial performance for the January-March quarter, according to the report.

In an exchange filing, HDFC Bank stated that the intended fundraise would involve the issuance of perpetual debt instruments, also known as Additional Tier-1 (AT-1) bonds, as well as Tier-II capital bonds and long-term bonds.

HDFC Bank has stated that the fundraising will be carried out on a private placement basis.

This move comes ahead of the bank's merger with Housing Development Finance Corp Ltd, which is expected to conclude by the end of June.

In December of last year, HDFC Bank raised 50 billion rupees by issuing 10-year Basel III-compliant Tier-II bonds, with a coupon rate of 7.84%.

The bank also issued Basel III-compliant AT-1 bonds worth 30 billion rupees with a coupon rate of 7.84% in September of the same year.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.