HDFC Bank prices $750 mln bond in largest offshore deal by lenders since 2023, say bankers (opens original article in a new tab)

HDFC Bank raised $750 million through a dollar bond, the largest offshore deal by an Indian lender since 2023, leveraging RBI's hedging facility to reduce currency risk costs.

• HDFC Bank priced a $750 million bond at 90 basis points over U.S. Treasuries, yielding 5.0670%
• The deal is the largest by an Indian lender since SBI's 2023 $750 million bond sale, aided by RBI's hedging facility
• Proceeds will fund overseas branches, offshore growth, and general corporate purposes