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HDFC Bank Plans To Raise Rs. 50,000 Crore Via Debt Issue

HDFC Bank Ltd said on Monday it plans to raise up to Rs. 50,000 crore ($7.19 billion) by issuing debt over the next 12 months.

HDFC Bank Ltd said on Monday it plans to raise up to Rs. 50,000 crore ($7.19 billion) by issuing debt over the next 12 months.

The bank proposes to issue perpetual debt instruments, tier II capital bonds and long-term bonds, India’s largest lender by market capitalisation said in a statement.

Private lender HDFC Bank on Monday said it was planning to raise up to Rs 50,000 crore this financial year by issuing bonds on private placement basis.

“We wish to inform you that the bank proposes to raise funds by issuing perpetual debt instruments (part of additional tier I capital), tier II capital bonds and long term bonds (financing of infrastructure and affordable housing) up to a total amount of Rs 50,000 crore in the period of next twelve months through private placement mode,” it said in a regulatory filing. The bank’s board will consider the plan when it meets on April 20 to release its quarterly results.

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