HDFC Bank raises USD 750 million in dollar bond sale

The countrys largest private sector lender HDFC Bank on Thursday announced that it has raised USD 750 million through a dollar bond sale.

The bank said it will be paying a coupon of 5.686 per cent for the three year bonds, according to an exchange filing.

The paper, rated Baa3 by Moodys Rating Services and Bbb by S&P, will be listed on the India International Exchange, it said.  The USD denominated senior unsecured instruments will be redeemed on maturity in March 2026.  The HDFC Bank scrip had closed 0.69 per cent down at Rs 1,603.35 a piece on the BSE on Thursday, as against a 0.23 per cent correction on the benchmark.

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