HDFC to become first issuer of masala bonds, raise Rs 3,000 cr

• Mortgage lender Housing Development Finance Corporation (HDFC) plans to raise up to Rs 3,000 crore through masala bonds
• HDFC appointed Axis Bank, Credit Suisse and Nomura as joint bookrunners and lead managers to the issue
• The lender said it plans to raise Rs 2,000 crore with an option to retain over-subscription of up to Rs 1,000 crore
• The bonds will bear a fixed coupon and will have a tenure of 3 years and 1 month
• It will be the first Indian public issuer of synthetic rupee notes or masala bonds since the Reserve Bank of India (RBI) allowed companies to issue rupee-denominated bond overseas in September last year.

About HDFC Bank:

• Headquarter of HDFC Bank: Mumbai
• Tag line of HDFC Bank: We Understand Your World
• CEO and MD of HDFC Bank: Aditya Puri

Important Question for Competitive Exam from this Current Affairs:

1. Which Bank to become first issuer of masala bonds to rise Rs 3000 cr: a)Axis Bank b)Dena Bank c)HDFC Bank d)ICICI Bank

source: financial express