Earlier this week, the private lender mandated Citigroup,
HSBC, JP Morgan, MUFG, Societe Generale and Standard Chartered
Bank as global coordinators and lead managers for the proposed
issue.
HDFC Bank aims to issue three-year dollar bonds and the
notes are expected to carry a rating of Baa3 by Moody's
Investors Service and BBB- by S&P Global Ratings.
HDFC Bank officials did not immediately reply to an email
from Reuters seeking comment.
The planned fundraising comes ahead of a merger with Housing
Development Finance Corp that raised 250 billion Indian rupees
($3.02 billion) last week through the biggest-ever bond issuance
by an Indian company.
($1 = 82.7490 Indian rupees)
(Reporting by Dharamraj Dhutia and Nimesh Vora; Editing by
Janane Venkatraman)
MUMBAI, Feb 23 (Reuters) - India's HDFC Bank has provided an initial price guidance of U.S. yield plus a
spread of 155 basis points, two merchant bankers aware of the
matter said on Thursday.
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