Issue of INR 7,390,000,000 Rupee – Denominated Additional Tier I Notes by HDFC Bank Limited under the US$ 3,000,000,000 Euro Medium Term Note Programme

J. Sagar Associates (JSA) advised HDFC Bank Limited in the issue of INR 7,390,000,000 Rupee – Denominated Additional Tier I Notes (Masala AT1 Bonds) under the US$ 3,000,000,000 Euro Medium Term Note Programme.

JSA also assisted and facilitated listing of the Masala AT1 Bonds on the Global Securities Market of India International Exchange ( IFSC) Limited , and the Debt Securities Market of the NSE IFSC Limited, India’s international stock exchanges at the IFSC GIFT City.

The transaction is HDFC Bank’s debut Masala AT1 Bonds Issue. The Issue is a’ first of its kind’ Masala AT1 Bonds Issue by an Indian Bank, which is exclusively listed on the international stock exchanges at the IFSC Gift City.

JSA team comprised Lead Partner – Dina Wadia and Partner – Uttara Kolhatkar.