HDFC Bank plans Rs 2,500-crore tier-1 bond sale amid firm credit offtake

HDFC Bank's Tier-1 bonds could be priced around 7.9-7.95 per cent, sources said

HDFC Bank — the country’s largest private lender — is likely to soon raise funds worth around Rs 2,500 crore through the issuance of Tier-1 bonds in order to fund robust credit growth, multiple sources told Business Standard.

State-owned lender Canara Bank is also likely to tap the capital market and raise funds worth around Rs 1,000 crore through the issuance of Tier-2 bonds on August 25, the sources said. Canara Bank’s bond issuance is likely to have a green-shoe option of Rs 1,000 crore, a tenor of 10 years for the securities and a call option after 5 years, they