HDFC Bank Raises $1.75 Billion Through Overseas Bond Sale

HDFC Bank has raised $1.75 billion through an overseas bond sale, making it one of the larger such fundraises by an Indian bank in recent times. Key Highlights • The issue was structured in two tranches: $500 million of 3-year bonds at a coupon of 5.159% and $1.25 billion of 5-year bonds at 5.401%. • The total $1.75 billion raise is higher than SBI’s $1.25 billion overseas bond raise in 2019. • The fundraise comes shortly after HDFC Bank’s $750 million overseas bond raise, highlighting continued access to international debt markets. Why It Matters The latest fundraise gives HDFC Bank access to $1.75 billion of overseas funding through a diversified maturity structure, with the larger portion coming through the 5-year tranche. The twin-tranche structure allows the bank to raise funds across different maturities, while the successful issue adds to its recent activity in international debt markets. The latest transaction, along with the recent $750 million raise, highlights HDFC Bank’s continued use of overseas bond markets as a source of funding.