($1 = 82.6440 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, Feb 24 (Reuters) - India's HDFC Bank has finalised a coupon of 5.686% for its planned three-year
dollar-denominated bond issue to raise $750 million, the bank
said in a stock exchange notice.
The pricing is higher than the U.S. yield by 125 basis
points (bps), compared with an initial guidance of 155 bps,
merchant bankers said.
Citigroup, HSBC, JP Morgan, MUFG, Societe Generale and
Standard Chartered Bank are global coordinators and lead
managers for the issue.
The notes carry a rating of Baa3 by Moody's Investors
Service and BBB- by S&P Global Ratings, and will be listed on
the India International Exchange.
The planned fundraising comes ahead of HDFC Bank's merger
with Housing Development Finance Corp , which raised
250 billion rupees ($3.03 billion) last week through the
biggest-ever bond issuance by an Indian company.
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