The notes are expected to carry a rating of Baa3 by Moody's Investors Service and BBB- by S&P Global Ratings. The planned fundraising comes ahead of a merger with Housing Development Finance Corp that raised 250 billion rupees ($3.02 billion) last week through the biggest-ever bond issuance by an Indian company. Last week, state-run REC had appointed five lead managers for its dollar-denominated bond issuance to raise funds via five-year debt sale. ($1 = 82.7500 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
MUMBAI, Feb 21 (Reuters) - India's HDFC Bank plans to raise funds through the sale of dollar-denominated
bonds, two merchant bankers aware of the matter said on Tuesday.
The private lender has mandated Citigroup, HSBC, JP Morgan,
MUFG, Societe Generale and Standard Chartered Bank as global
coordinators and lead managers for the proposed issue, they
said.
The lead managers will arrange investor calls later in the
day for the issue, which is likely to have a duration of three
years.
HDFC Bank officials did not immediately reply to an email
seeking comment for the same.
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