Issue of U.S.$ 750 Million Senior Notes under the U.S.$3 Billion Medium Term Note Programme by HDFC Bank Limited

JSA advised HDFC Bank Limited, India’s largest private sector bank, in the issue of the twin tranche dollar bonds issue- of U.S.$ 750 Million Senior Notes under the U.S.$3 Billion Medium Term Note Programme by HDFC Bank Limited, comprising of :- (i) Issue of U.S.$450 Million. Senior Notes; and (ii) Issue of U.S.$300 Million Senior Notes.

The Senior Notes tranche of US$ 300 Million out of overall US$ 750 Million is HDFC Bank’s debut sustainable finance dollar-denominated bond issue.

The Bond Issue had the tightest credit spreads achieved by an Indian Issuer for a sustainable finance bond and senior unsecured bond for a similar size of US$ Reg S issuance.

Our Transaction Team Lead Partner – Dina Wadia and Partner – Uttara Kolhatkar