Chennai: HDFC Bank had announced to raise a benchmark sized Bond Issuance under RegS/144A format.
The bank said it was able to successfully price its US $ 1 billion issuance of Additional Tier 1 (AT1) notes in the overseas markets on 18 August.
The dollar denominated, Basel III compliant AT1 notes were finally priced at 3.70 per cent, 42.5 bps lower than the initial price guidance. The issuance has been given a provisional rating of Ba3 by Moody’s Rating Services. This is one of the tightest pricing achieved by any bank from Asia with Ba3 rating, it added.