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HDFC Bank to redeem INR 7.39B Tier 1 bonds

HDFC Bank will redeem its INR 7.39 billion Additional Tier 1 notes on Sept. 30, 2026 at 100% of principal plus accrued, unpaid interest, with a notice via Citibank N.A.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

HDFC BANK LTD (symbol HDB) reports that it has elected to exercise the issuer call option on its INR 7,39,00,00,000 Additional Tier 1 notes issued as rupee-denominated bonds overseas on September 30, 2021. The bank will redeem these bonds in full on the first call date, September 30, 2026, at 100% of the principal amount outstanding plus accrued and unpaid interest or distributions in line with the bond terms. A notice has been instructed to be sent to all eligible bondholders through the trustee, Citibank N.A., London Branch.

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Additional Tier 1 notes principal INR 7,39,00,00,000 Principal amount of Additional Tier 1 notes subject to the call option and redemption
Redemption date September 30, 2026 First Call Date on which the Additional Tier 1 notes will be redeemed in full
Redemption price 100% of principal amount outstanding Redemption price for the Additional Tier 1 notes, plus accrued and unpaid interest/distributions
Original issue date of notes September 30, 2021 Date on which the Additional Tier 1 notes were originally issued as rupee-denominated bonds overseas
ISIN of Additional Tier 1 notes XS2392409681 Security identifier for the Additional Tier 1 notes being called and redeemed
Additional Tier 1 notes financial
"Exercise of call option on INR 7,39,00,00,000 Additional Tier 1 Notes"
Rupee Denominated bonds overseas financial
"issued on September 30, 2021 in the form of Rupee Denominated bonds overseas"
Call Option financial
"the Bank has elected to exercise the Call Option in respect of the INR"
A call option is a contract that gives its buyer the right, but not the obligation, to buy a specific number of shares at a predetermined price within a set time period. Think of it as a refundable reservation to buy an item later at today’s price: you pay a fee up front and can profit if the stock rises, while your downside is limited to that fee; investors use calls to gain leverage, speculate on upside, or hedge positions without owning the shares.
First Call Date financial
"the Bank will redeem the said Bonds in full on the First Call Date"
Redemption Price financial
"at the applicable redemption price, together with accrued and unpaid interest"
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.

FAQ

What action is HDFC BANK LTD (HDB) taking regarding its Additional Tier 1 notes?
HDFC BANK LTD has elected to exercise the call option on its INR 7,39,00,00,000 Additional Tier 1 notes issued on September 30, 2021 and will redeem them in full on September 30, 2026 at par plus accrued and unpaid interest or distributions.

What is the size of the Additional Tier 1 bond issue HDB is redeeming?
The Additional Tier 1 bond issue being redeemed by HDFC BANK LTD totals INR 7,39,00,00,000 in principal amount, as stated in the terms of the call exercise and bond description.

When will HDFC BANK LTD (HDB) redeem its called Additional Tier 1 notes?
HDFC BANK LTD will redeem the called Additional Tier 1 notes on the First Call Date, September 30, 2026, in accordance with the bonds’ terms and conditions.

At what price will HDFC BANK LTD (HDB) redeem the Additional Tier 1 notes?
HDFC BANK LTD will redeem the Additional Tier 1 notes at 100% of the principal amount outstanding, together with accrued and unpaid interest or distributions up to, but excluding or including, the redemption date as specified in the bond terms.

What is the ISIN of the HDFC BANK LTD (HDB) Additional Tier 1 notes being called?
The Additional Tier 1 notes of HDFC BANK LTD being called and redeemed have the ISIN XS2392409681, as identified in the call exercise terms table.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under the

Securities Exchange Act of 1934

For the month of September, 2026

Commission File Number 001-15216

HDFC BANK LIMITED

(Translation of registrant’s name into English)

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

 

 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

   

HDFC BANK LIMITED

       (Registrant)
Date: September 2, 2026         By:  

/s/ Ajay Agarwal

   

Name:  Ajay Agarwal

   

Title:   Company Secretary

    Group Head – Secretarial & Group Oversight

EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this report pursuant to the General Instructions for Form 6-K.

Exhibit No. 99

Description

Exercise of call option on INR 7,39,00,00,000 Additional Tier 1 Notes issued by HDFC Bank Limited

Exhibit 99

September 2, 2026

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Exercise of call option on INR 7,39,00,00,000 Additional Tier 1 Notes issued by HDFC Bank Limited

We wish to inform you that the Bank has elected to exercise the Call Option in respect of the INR 7,39,00,00,000 Additional Tier 1 Notes (“Bonds”), issued on September 30, 2021 in the form of Rupee Denominated bonds overseas, in accordance with Condition 7.3 (Redemption at the Option of the Issuer) of the Trust Deed.

We wish to further inform you that the Bank will redeem the said Bonds in full on the First Call Date, i.e., September 30, 2026, at the applicable redemption price, together with accrued and unpaid interest/distributions up to (but excluding/including, as applicable) the redemption date, in accordance with the Terms and Conditions of the said Bonds.

A letter dated September 1, 2026, has been issued to the Trustee i.e. Citibank, N.A , London Branch, with an instruction to issue a notice of redemption to all the eligible Bondholders as per the prescribed timelines and mode of delivery.

The terms and conditions of the call exercise are given below:

 

Nature of Securities

    Description of
securities		    ISIN    Amount
Outstanding		    Call/
Redemption
Date		   

Redemption Price

Additional Tier1 Notes sold under Regulation S    INR 7,39,00,00,000
Additional Tier 1
notes		    XS2392409681    INR 7,39,00,00,000    September 30, 2026    100% of the principal amount outstanding (together with accrued and unpaid interest/ distributions up to, but excluding/ including, the redemption date, as applicable under the terms and conditions.)

This is for your information and record.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Ajay Agarwal

Company Secretary

Group Head – Secretarial & Group Oversight

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

1 document

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