In a first, HDFC Bank listed their 3.7 percent $1 billion foreign currency AT1 bonds exclusively in GIFT IFSC today. GSM, the primary market platform of India INX, has evoked significant interest since its establishment in 2018 and has more than $55+ billion medium term notes established and over $28+ billion of bond listings till date.
Commenting on the listing, V. Balasubramaniam, MD and CEO, INDIA INX said, “We take immense pride in welcoming HDFC Bank on India INX on their exclusive listing of AT1 Bonds on India’s own IFSC. We along with our regulator IFSCA have an endeavour to provide the issuers with a comprehensive and seamless issuance and listing process at par with best global practices and hope to on board more and more issuers on our platform in the near future”
Commenting on the listing, Manoj Kumar, Executive Director , IFSCA said “The primary listing of HDFC AT 1 Bonds demonstrates the competitiveness of both the IFSC Exchanges; India INX and NSE IFSC internationally. This is a major milestone for GIFT IFSC in onshoring the offshore financial services for Indian entities. IFSCA envisions that the recently notified regulations on issuance and listing of securities will enable more financial instruments to be listed and traded in this jurisdiction”
