Business/Economy

HDFC Bank plans to raise Rs 50,000 crore via bonds

HDFC Bank plans to raise Rs 50,000 crore via bonds

 HDFC Bank on Friday made a big announcement to raise Rs 50,000 crore through bonds in the next 12 months to fund business expansion.

In a regulatory filing, HDFC bank said, the decision to this effect will be taken in the board meeting on April 21, 2018, HDFC Bank said in a regulatory filing.

 The funds will be raised by issuing Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (Financing of infrastructure and affordable housing) up to a total of Rs 50,000 crore in next 12 months through private placement mode, it said.

It further added, "The bank shall appropriately inform the exchanges after the conclusion of the board meeting.”