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HDFC Bank, the second largest private lender of the country, has raised debt worth Rs 8,000 crore through private placement by issuance of additional Tier-I (AT1) bonds through online bidding of securities on the National Stock Exchange.
As per the Bloomberg data, the perpetual bonds, that have no maturity date, carry a coupon of 8.85 percent, the lowest pricing on such debt issued by any Indian lender in 2017.
HDFC Bank, in April, said that it is going to raise up to Rs 50,000 crore through issue of debt instruments, Tier-II bonds and long term infrastructure bonds over the next 12 months, in order to augment its capital base to support a growing business and a swelling loan book.
The board of the bank has provided its approval to the issue of securities under private placement basis.
