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HDFC Bank Issues Dollar Bond at Record-Low Spread
HDFC Bank priced a dollar-denominated bond at its tightest spread to date. The transaction drew strong orders from global investors seeking exposure to India’s largest private-sector lender.
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HDFC Bank priced a dollar bond at its narrowest spread on record, reflecting robust demand from international investors.
The bank sold the notes at a spread that beat its previous low. Proceeds will support general corporate purposes, including expansion of its overseas branch network.
Order books were multiple times oversubscribed shortly after launch. The outcome follows several quarters of steady deposit growth and stable asset quality metrics at the bank. HDFC Bank maintains its position as India’s largest private-sector lender by assets.
Transparency
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