HDFC Bank (NYSE: HDB) prices USD 750M 5-year senior unsecured bonds at 5.067% coupon

Rhea-AI Filing Summary

HDFC Bank Limited has completed the issuance of USD 750 million senior unsecured bonds through its GIFT City IFSC banking unit on June 16, 2026. The notes have a 5-year tenure, with allotment on June 24, 2026 and maturity on June 24, 2031.

The bonds carry a fixed coupon of 5.067% per annum, payable semi-annually on June 24 and December 24 each year, starting December 24, 2026. The issue is unsecured, ranks as senior unsecured debt, and the proceeds will be used for the bank’s banking activities.

The notes are expected to be rated Baa3 by Moody’s and BBB by S&P, and will be listed on the India International Exchange (IFSC) Limited and NSE IFSC. Redemption is scheduled at maturity.

Insights

Bank funding and capital markets analyst

HDFC Bank raises USD 750M via 5-year senior unsecured bonds at a 5.067% coupon.

HDFC Bank has tapped the international bond market for USD 750 million in senior unsecured funding through its GIFT City IFSC unit. The notes carry a 5.067% fixed coupon, with semi-annual payments, and a 5-year maturity profile.

The bonds are expected to be rated investment grade at Baa3 by Moody’s and BBB by S&P, aligning with typical wholesale funding for a large bank. Proceeds are earmarked for general banking activities, which can include supporting loan growth or refinancing other obligations.

The listing on the India International Exchange (IFSC) Limited and NSE IFSC provides a trading venue for institutional investors. Future disclosures in company filings may provide more detail on how this funding shapes the bank’s overall funding mix and maturity ladder.

Key Figures

Bond issue size: USD 750,000,000 Coupon rate: 5.067% per annum Tenure: 5 years +5 more

8 metrics

Bond issue size USD 750,000,000 Size of the senior unsecured bonds issue

Coupon rate 5.067% per annum Interest rate on the bonds

Tenure 5 years From June 24, 2026 to June 24, 2031

Allotment date June 24, 2026 Date of bond allotment

Maturity date June 24, 2031 Date of bond redemption at maturity

Coupon payment dates June 24 and December 24 Semi-annual interest payment schedule each year

Moody’s expected rating Baa3 Expected rating for the notes

S&P expected rating BBB Expected rating for the notes

Key Terms

Senior Unsecured Bonds, SEBI Listing Regulations, IFSC Banking Unit, India International Exchange (IFSC) Limited, +2 more

6 terms

Senior Unsecured Bonds financial

"HDFC Bank Limited ... has completed the issuance of USD 750 Million Senior Unsecured Bonds"

Senior unsecured bonds are loans a company issues to investors that have priority for repayment over other unsecured debts but are not backed by specific assets as collateral. Think of them as a high‑priority IOU: if the company runs into trouble, holders are paid before holders of junior debt but after any creditors who have claims on particular assets, so they offer a mix of relative safety and higher yield than secured or higher‑priority loans.

SEBI Listing Regulations regulatory

"Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015"

IFSC Banking Unit financial

"HDFC Bank Limited acting through GIFT City IFSC Banking Unit has completed the issuance"

India International Exchange (IFSC) Limited financial

"The Notes will be listed on the India International Exchange (IFSC) Limited and NSE IFSC"

NSE IFSC financial

"The Notes will be listed on the India International Exchange (IFSC) Limited and NSE IFSC"

Senior unsecured financial

"Ranking | | Senior unsecured"

Senior unsecured is a type of loan or bond that has priority over other unsecured obligations for repayment if a company runs into financial trouble, but it is not backed by specific assets as collateral. Think of it as being near the front of a line to get paid, but without a pledged item to seize if the borrower defaults; that higher repayment priority typically makes it less risky than subordinated debt but more risky than secured debt, which influences the interest rate investors demand.

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Form 6-K: How Foreign Companies Report to the SEC →

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 June, 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: June 16, 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

Issuance of USD 750 Million Senior Unsecured Bonds

Exhibit 99

June 16, 2026

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)- Issuance of USD 750 Million Senior Unsecured Bonds

Dear Sir,

We wish to inform you that HDFC Bank Limited acting through GIFT City IFSC Banking Unit has completed the issuance of USD 750 Million Senior Unsecured Bonds, today i.e. June 16, 2026.

The details in relation to above mentioned issuance are as follows:

Particulars		Details
Type of Instrument		USD denominated senior unsecured Bonds
Rating		Notes are expected to be rated Baa3 by Moody’s Rating Services and BBB by S&P
Use of proceeds		For banking activities
Size of the Issue		USD 750,000,000
Whether proposed to be listed? If yes, name of the stock exchange(s)		The Notes will be listed on the India International Exchange (IFSC) Limited and NSE IFSC
Tenure of the instrument – date of allotment and date of maturity		Tenure - 5 years Allotment Date- June 24, 2026 Date of Maturity- June 24, 2031
Coupon/interest offered, schedule of payment of coupon/ interest and principal		5.067% per annum payable on June 24 and December 24 each year commencing on December 24, 2026
Charge or security, if any, created over the assets		Unsecured
Ranking		Senior unsecured
Special right/interest/privileges attached to the instrument and changes thereof		N/A
Delay in payment of interest/ principal amount for a period of more than 3 months from the due date or default in payment of interest/ principal		As per the Clauses in the Terms and Conditions of Notes.
Details of any letter or comments regarding payment/non-payment of interest, principal on due dates, or any other matter concerning the security and /or the assets along with its comments thereon, if any		N/A
Details of redemption		Redemption at the maturity

This is for your information and appropriate dissemination.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Ajay Agarwal

Company Secretary

Group Head – Secretarial & Group Oversight

FAQ

What type of debt has HDFC Bank (HDB) issued in June 2026?

HDFC Bank has issued USD 750 million senior unsecured bonds with a 5-year tenure. The notes are denominated in US dollars, carry a fixed coupon, and rank as senior unsecured obligations of the bank.

What is the coupon rate on HDFC Bank (HDB) USD 750 million bonds?

The bonds carry a fixed coupon of 5.067% per annum, paid semi-annually. Interest payments fall on June 24 and December 24 each year, starting December 24, 2026, until maturity in 2031.

When do HDFC Bank (HDB) new bonds start and when do they mature?

The bonds have an allotment date of June 24, 2026 and mature on June 24, 2031. This creates a 5-year maturity profile, with principal repaid in full at redemption on the maturity date.

How will HDFC Bank (HDB) use proceeds from the USD 750 million bond issue?

The bank plans to use the USD 750 million proceeds for banking activities. This typically includes funding lending operations, managing liquidity, or refinancing existing obligations, as part of its broader balance sheet management.

Where will HDFC Bank (HDB) USD 750 million bonds be listed and traded?

The notes will be listed on the India International Exchange (IFSC) Limited and NSE IFSC. These listings provide a regulated platform for institutional investors to trade the bonds in the international financial services center.

What are the expected credit ratings for HDFC Bank (HDB) new bonds?

The notes are expected to be rated Baa3 by Moody’s Rating Services and BBB by S&P. These investment-grade ratings reflect the credit assessment of the bond issue by major global rating agencies.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99 EX-99 11.4 KB