HDFC Bank raises $500 mn

Private sector lender HDFC Bank raised $ 500 million by way of five-year Reg S bonds on Wednesday.

The bonds' price has been fixed at 235 basis points above the five-year US treasury.

The bank on Monday had launched a road-show in Hong Kong, Singapore and London for the issue.

Global ratings agency Standard & Poor's had given a BBB- rating to the bank's senior unsecured notes.