HDFC Bank has issued and alloted fully paid-up, non-convertible, Basel III compliant Tier 2 bonds worth Rs 15,000 crore on Friday on a private placement basis, according to a stock exchange filing from the bank.
The bank has done this to strengthen its capital adequacy and to enhance its long-term resources.
HDFC Bank on November 17 opened the bidding for its Rs 5,500 crore NCDs with a tenure of 3 years. The NCDs that were released will mature on November 18, 2025.
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