HDFC Bank raises over Rs 1,700 cr through bonds

Written by Agencies | Mumbai | Updated: Dec 26 2008, 19:32pm hrs
HDFC Bank said it has raised Rs 1,728 crore through the private issue of subordinated debt.

On a private placement basis, the bank has issued unsecured non-convertible redeemable subordinated bonds in the nature of debentures, HDFC said on Friday in a regulatory filing to Bombay Stock Exchange.

HDFC Bank sold upper Tier II bonds for an amount of Rs 578 crore and issued lower Tier II bonds raising an amount of Rs 1,150 crore.

The country's second largest private sector lender has 1,412 branches in 528 Indian towns and cities.