HDFC Bank has raised Rs 3,000 crore by issuing bonds on a private-placement basis, the company said in a BSE filing on Wednesday. “The bank has issued and allotted on a private placement basis senior, unsecured, redeemable, long term, non-convertible bonds in the nature of debentures for R3,000 crore,” said the filing.
On other hand, micro-finance lender SKS Microfinance raised R200 crore through private placement of non-convertible debentures, the NBFC said in a BSE filing.
“The NCDs have been rated A+ by a rating agencies,” the filing said, adding NCDs will be listed on wholesale debt market segment of BSE.
After witnessing a slew of bond issuances in March, there may be lesser issuances in April, said bond market experts. One of the companies likely to issue bonds is Indian Railway Finance Corporation (IRFC), the finance arm of the Indian Railways. IRFC is looking to raise up to R1,500 crore through short-term bonds next week.
IDBI bank is also expected to tap the bond markets to issue infrastructure bonds after the bank postponed the issue in March. A senior bank official had said they expect yields on infrastructure bonds to come down in April.