HDFC Bank Raises $1.75B in Record Dollar Bond Issue

HDFC Bank raised $1.75 billion through three- and five-year dollar bonds, the largest debt capital market raise by an Indian financial institution. The issuance drew over $7 billion in bids, enabling tighter pricing. The proceeds support FCNR(B) deposit funding.

The deal was structured across two tenors. Investor demand was strong, as reflected in the oversubscription.

HDFC Bank carries an Alpha Score of 41 out of 100 on AlphaScala's proprietary system, a Mixed rating. The stock page is here.

The bond sale comes as U.S. Treasury yields have moved higher, increasing the cost of dollar-denominated debt.