MUMBAI: HDFC Bank has raised $1.75 billion through a dual-tranche dollar bond issue from its GIFT City branch to fund overseas lending and general banking operations.The issue comprises $500 million of three-year notes at 5.15% and $1.25 billion of five-year notes at 5.4%, settling Aug 26. The notes mature in Aug 2029 and Aug 2031 respectively and carry expected ratings of Baa3 from Moody’s and BBB from S&P.The senior unsecured bonds will list on India INX and NSE-IX in GIFT City and redeem in full at maturity. This is the largest issuance by an Indian Bank after the global financial crisis of 2008.
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