Advertisement

Home / Business / HDFC to raise capital by additional tier-I bonds in overseas market

HDFC to raise capital by additional tier-I bonds in overseas market

The bank is expected to raise up to $1 billion from these dollar denominated bonds
Representational image.

PTI   |   New Delhi   |   Published 17.08.21, 12:38 AM

HDFC Bank on Monday said the bank plans to raise capital by additional tier- I (AT1) bonds in the overseas market to fund its business growth.

The bank is expected to raise up to $1 billion from these dollar denominated bonds.

Advertisement

“We hereby inform you that the bank had approved the issuing of debt instruments in the form of the notes, subject to market conditions,” HDFC Bank said in a regulatory filing.

An offering memorandum (OM) has been prepared and shall be made available to the prospective investors in relation to the contemplated issue of notes, it said. The notes will not be offered or sold in India under the applicable laws, including the Companies Act, 2013, as amended from time to time, it added.

Earlier in April, the bank had informed that it is planning to raise up to Rs 50,000 crore during the next 12 months through issuing bonds.

SBI offer

The State Bank of India on Monday announced a slew of offers for its retail customers ahead of the festive season. 

The bank has announced a 100 per cent waiver on processing fees for its car loan customers across all channels, a release said, adding that customers can get the facility of up to 90 per cent on-road financing for their car loans.

The lender is also offering a special interest concession of 25 basis points (bps) to a customer applying for a car loan through the YONO app.

YONO users can avail of car loans at an interest rate starting at 7.5 per cent per annum, the release said.

The bank is offering a reduction of 75 bps in the interest rates for customers availing of gold loans. They can avail of gold loans from across all channels of the bank at 7.5 per cent per annum.



Advertisement
Advertisement
Mobile Article Page Banner
Advertisement
 
 
 
Copyright © 2020 The Telegraph. All rights reserved.