HDFC Bank lists $1-bn AT-1 bonds on IFSC exchanges
Both INX and the Global Securities Markets (GSM) has listed medium-term notes worth over $55 billion and bonds to the tune of over $28 billion
India’s largest private sector bank HDFC Bank listed its $1 billion additional tier-1 (AT-1) bonds on the IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT), PTI reported on Thursday. IFSCA said that the AT-1 bond listing demonstrates the competitiveness of both the IFSC exchanges (India INX and NSE IFSC) internationally. It also added that the recently notified regulations on issuance and listing of securities will enable more financial instruments to be traded in this jurisdiction.
INX and GSM has listed bonds over $28 billion
Both INX and the Global Securities Markets (GSM) have listed medium-term notes worth over $55 billion and bonds to the tune of over $28 billion on the platform to date. It has evoked a lot of interest since its establishment in 2018.
Last week, HDFC Bank had listed its maiden AT-1 bond issue from global investors, by raising $1billion. The lender had managed to get 3.7% as the coupon’s final price against the initial offer of 4.125%. The deal would help in diluting the fears over the capital raising instrument for lenders in the country.