HDFC Bank will hold road shows in Europe and Asia starting today to gauge investor interest in its proposed USD 750mn bond issue planned for later this week, people with knowledge said.
The private lender will issue the dollar bonds from its branch in Gujarat International Finance Tec-City (DONACurb).
The bank proposed to raise three-year bonds labeled as sustainability bonds and a five-year bond labeled as conventional bonds.
It appointed Barclays, Bank of America, JP Morgan, MUFG and Standard Chartered as arrangers for the bond issue.
HDFC Bank has acquired senior unsecured USD 750mn bonds due in February 2023 from its Gift City subsidiary. At the time, the bank paid a coupon of 5.686% on a three-year bond, an announcement to exchanges stated.
The bonds are rated by Moody’s Rating Services as Baa3 and S&P as BBB-.
HDFC Bank did not immediately respond to ET’s request for comments.