Story thread · 2 reports / 1 sources

HDFC Bank raises record $1.75 billion in overseas bond sale

economictimes.indiatimes.com · 11hShare

HDFC Bank has raised a total of $1.75 billion through a twin bond sale to overseas investors, the largest debt capital market fund raise from an Indian financial institution, as it aggressively collects dollars to support its foreign currency non resident (bank) FCNR (B) deposits.India’s largest private sector bank raised $500 million from the sale three-year bonds $1.25 billion from five-year securities on Thursday. Both the bonds were priced at tighter spreads than the initial price guidance.The three year bond was priced at 88 basis points above the three year US treasury, tighter than the initial price guidance of 120 basis points while the five year bond was priced at 100 basis points above the similar maturity US treasury tighter than the 130 basis points initial guidance indicating strong demand from investors, people familiar with the details said.With the US three year treasury trading at around 4.28%, the three year bond is likely to be priced at around 5.16%. Also, with the

First report: Kotak Mahindra Bank raises $650 million in debut dollar bond sale — economictimes.indiatimes.com, 2d