HDFC Bank appoints BoA, Barclays for likely dollar bond issue, say bankers

HDFC Bank, India's largest private-sector lender, has appointed banks for a likely dollar bond sale, two bankers said on Monday.

The bank is looking to issue three-year sustainability dollar bonds and five-year conventional notes, they added.

It has appointed Barclays, Bank of America, J.P.Morgan, MUFG and Standard Chartered as joint bookrunners and lead managers to arrange fixed-income investor update calls in Asia and Europe this week, the bankers said.

HDFC Bank did not immediately respond to a Reuters email seeking comment.

HDFC Bank's Regulation-S notes will be rated Baa3 by Moody's and BBB- by S&P.

HDFC Bank last tapped the dollar bond market in February 2023 when it had raised $750 million via three-year dollar-denominated bonds at a coupon of 5.686%.

Indian renewable energy firm Greenko Energy Holdings has mandated banks for a dollar green bond sale by its wholly-owned subsidiary, Greenko Mauritius, and is currently exploring the market for a shorter-tenor issue.