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HDFC Bank becomes first Indian Bank to exclusively list USD 1 Billion AT1 dollar bonds in IFSC

GSM, the primary market platform of India INX, has evoked significant interest since its establishment in 2018 and has more than USD 55+ Bn medium term notes established and over USD 28+ Bn of bond listings till date.

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Kolkata: In a first, HDFC Bank, India’s leading Private Bank, listed their 3.7% USD 1 Billion foreign currency AT1 bonds exclusively in GIFT IFSC Wednesday.

GSM, the primary market platform of India INX, has evoked significant interest since its establishment in 2018 and has more than USD 55+ Bn medium term notes established and over USD 28+ Bn of bond listings till date.

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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 thank HDFC Bank for reposing this trust on our platform and congratulate them on their success. 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 onboard 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.”

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