($1 = 82.0950 Indian rupees) (Reporting by Nandan Mandayam in Bengaluru and Siddhi Nayak in Mumbai; Editing by Savio D'Souza)
(Updates with details, background)
BENGALURU, April 11 (Reuters) - Indian private lender
HDFC Bank Ltd said on Tuesday it would consider
raising debt of 500 billion rupees (about $6 billion) over the
next one year.
The bank will discuss the fund raise at its board meeting on
Saturday, when it is also due to report earnings for the
January-March quarter.
The proposed fund raise would be by issuing perpetual debt
instruments, or Additional Tier-1 (AT-1) bonds, Tier-II capital
bonds and long-term bonds, the bank said in an exchange filing.
The fund raising will be on a private placement basis, it
said.
The proposed fundraising comes ahead of HDFC Bank's merger
with Housing Development Finance Corp Ltd , which is
likely to be completed by the end of June.
In December, HDFC Bank had raised 50 billion rupees via
10-year Basel III-compliant, Tier-II bonds at a coupon of 7.84%.
Last September, it issued Basel III-compliant AT-1 bonds
worth 30 billion rupees at a coupon of 7.84%.
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