HDFC Bank raises $750 million via offshore bond issue through GIFT City unit

HDFC Bank raised $750 million through senior unsecured dollar-denominated bonds issued via its GIFT City IFSC Banking Unit. The five-year bonds carry a coupon rate of 5.067% per annum, with semi-annual interest payments and maturity set for June 24, 2031. The notes are rated Baa3 by Moody's and BBB by S&P, and proceeds will be utilised for general banking activities.