BANGALORE (Reuters) – Indian private lender HDFC Bank Ltd said on Tuesday it would consider raising 500 billion rupees (about $6 billion) in debt over the next year.
The bank is set to discuss funding at its board meeting on Saturday, and earnings for the January-March quarter are also expected to be reported.
The proposed financing would be through the issuance of perpetual debt securities or additional Tier-1 (AT-1) notes, Tier-II capital notes and long-term notes, the bank said in an exchange filing. rice field.
The funding will be on a private placement basis, the company said.
The proposed financing comes ahead of HDFC Bank’s merger with Housing Development Finance Corporation, which is likely to be completed by the end of June.
In December, HDFC Bank raised Rs 50 billion through 10-year Basel III compliant Tier II bonds at a coupon of 7.84%.
In September last year, it issued a Basel III compliant AT-1 bond worth Rs 30 billion with an interest rate of 7.84%. ($1 = 82.0950 Indian Rupees)
(Reporting by Nandan Mandayam, Bangalore and Siddhi Nayak, Mumbai; Editing by Savio D’Souza)
