HDFC Bank prices $750 million bond in largest offshore deal by lenders since 2023
Summary
HDFC Bank priced a $750 million offshore bond, marking the largest overseas debt deal by an Indian lender since 2023. The bank used the RBI’s subsidized hedging window to lower the cost of currency risk on the borrowing. Strong investor demand tightened pricing from initial guidance and set the bond yield at 5.0670%. The proceeds will support overseas branches and subsidiaries, offshore business growth, and general corporate purposes.
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