HDFC Bank will hold roadshows in Europe and Asia starting today to gauge investors’ interest in their proposed USD 750mn bond issuance planned later this week, said people with knowledge.
The private lender will issue the dollar bonds out of its branch in Gujarat International Finance Tec-City (GIFT city).
The bank has proposed to raise three-year bonds tagged as sustainability bonds and a five-year bond tagged as conventional bonds.
It has appointed Barclays, Bank of America, JP Morgan, MUFG and Standard Chartered as arrangers for the bond issuance.
HDFC Bank had raised senior unsecured USD 750mn bonds in February 2023 from its Gift City branch. At that time, the bank had paid a coupon of 5.686% on a three-year bond, a notice to exchanges stated.
The bonds are rated by Moody’s Rating Services as Baa3 and S&P as BBB-.
HDFC Bank did not immediately respond to ET’s request for comments.