HDFC Bank share price climbed 1% in morning trade on the NSE on Friday, 21 August, looking set to extend gains for the second consecutive session after India’s largest bank by market capitalisation said it raised $1.75 billion via dual-tranche senior unsecured bonds through GIFT City branch.
HDFC Bank shares opened at ₹728.30 against their previous close of ₹725.05 and rose 1% to an intraday high of ₹732.60.
HDFC Bank issues $1.750 billion unsecured bonds
In an exchange filing on 20 August, HDFC Bank said it had successfully completed the issuance of $1.75 billion in senior unsecured bonds through its GIFT-City Branch. The offshore bond transaction marks a major international fund-raising drive for India’s largest private-sector lender.
India’s largest private sector bank, through its GIFT City branch, raised $500 million through three-year senior unsecured notes and $1.25 billion through five-year notes, according to a late Thursday exchange filing.
The three-year bonds carry a coupon of 5.159%, while the five-year notes carry a coupon of 5.401%. Both issuances are scheduled to settle on 26 August.
HDFC Bank share price trend
HDFC Bank shares are down 26% year-to-date, compared with a 7% fall in the benchmark Nifty 50.
The stock hit a 52-week low of ₹715.10 on 19 August this year and a 52-week high of ₹1,020.50 on 23 October last year.
On a monthly basis, the stock is down 2.5% so far in August, following a 6% decline in July.
(This is a developing story. Please check back for fresh updates.)
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