HDFC Bank plans to raise Rs 500 bn via bonds in FY19 to fund expansion

HDFC Bank on Friday said it plans to raise Rs 500 billion through bonds in the next 12 months to fund business expansion.

The decision to this effect will be taken in the board meeting on April 21, 2018, HDFC Bank said in a regulatory filing.

The funds will be raised 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 of Rs 500 billion in next 12 months through private placement mode, it said.

"The bank shall appropriately inform the exchanges after the conclusion of the board meeting," it said.