Millennium Post (Kolkata)
HDFC Bank plans to raise `50,000 cr via bonds in 12 months
NEW DELHI: HDFC Bank on Wednesday said it is planning to raise up Rs 50,000 crore during the next 12 months through issuing bonds.
The bank’s board of directors will take up the proposal at its meeting on April 17, it said in a regulatory filing.
“The bank proposes to raise funds 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 amount of Rs 50,000 crore over the period of the next 12 months through the private placement mode,” HDFC Bank said. Perpetual bonds carry no maturity date, so they may be treated as equity, not as debt.