HDFC Bank (NYSE: HDB) completes $1.75B two-part bond sale

Q: What did HDFC BANK LTD (HDB) announce in this Form 6-K?

HDFC Bank Limited announced completion of a US$ 1,750 million international issuance of senior unsecured bonds through its GIFT City Branch, split into two fixed-rate tranches with 3-year and 5-year tenors, listed on India INX and NSE-IX.

Q: What are the sizes and coupons of the new HDB bonds?

The bank issued US$ 500 million of 3-year notes with a 5.159% coupon and US$ 1,250 million of 5-year notes with a 5.401% coupon, both paying interest semi-annually on a 30/360 basis.

Q: When do the new HDFC BANK LTD (HDB) bonds settle and mature?

Both tranches settle on 26 August 2026. The 3-year notes mature on 26 August 2029, and the 5-year notes mature on 26 August 2031, with principal expected to be redeemed at maturity.

Q: How are the new HDB bonds structured in terms of security and ranking?

The instruments are described as Senior Unsecured Fixed Rate Notes. They are unsecured, with no specific charge over assets, and their ranking is stated as senior unsecured in the capital structure.

Q: What credit ratings are associated with HDFC BANK LTD and these notes?

HDFC Bank Limited has issuer ratings of Baa3 (Stable) from Moody’s and BBB (Stable) from S&P. The new notes have expected issue ratings of Baa3 and BBB from Moody’s and S&P, respectively.

Q: On which exchanges will the new HDB bonds be listed?

The senior unsecured notes are listed on India INX (India International Exchange (IFSC) Limited) and on the NSE International Exchange (NSE-IX), according to the disclosure.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

6-K

Rhea-AI Filing Summary

HDFC Bank Limited (HDB) reports that, acting through its GIFT City Branch, it has completed an international issuance of US$ 1,750 million senior unsecured bonds. The offering consists of two tranches of Senior Unsecured Fixed Rate Notes issued under Rule 144A / Regulation S.

The first tranche is US$ 500 million with a 3-year tenor, a coupon of 5.159% (semi-annual, 30/360), settling on 26 August 2026 and maturing on 26 August 2029. The second tranche is US$ 1,250 million with a 5-year tenor, a coupon of 5.401% (semi-annual, 30/360), settling on 26 August 2026 and maturing on 26 August 2031. The notes are unsecured, rank as senior unsecured, and are listed on India INX and NSE International Exchange (NSE-IX).

The issuer holds ratings of Baa3 (Stable) from Moody’s and BBB (Stable) from S&P, and the notes are expected to be rated in line with these levels. The bank also states that it has executed a Subscription Agreement with the lead managers for the issue.

Filing Explained

The completed bond issue adds senior unsecured debt, requiring fixed-rate interest payments and principal redemption at maturity.

HDFC Bank reports the issue as completed; structurally, it adds senior unsecured fixed-rate debt obligations rather than equity, with interest payments and principal redemption required under the notes.

The disclosed obligations are US$ 500 million due on August 26, 2029 and US$ 1,250 million due on August 26, 2031, carrying fixed coupons of 5.159% and 5.401%, respectively. The filing states that redemption occurs at maturity.

Key Figures

Total issue size: US$ 1,750 million 3-year tranche size: US$ 500 Million 5-year tranche size: US$ 1,250 Million +5 more

8 metrics

Total issue size US$ 1,750 million Aggregate principal amount of senior unsecured bonds issued through GIFT City Branch

3-year tranche size US$ 500 Million Principal amount of 3-year Senior Unsecured Fixed Rate Notes

5-year tranche size US$ 1,250 Million Principal amount of 5-year Senior Unsecured Fixed Rate Notes

3-year coupon 5.159% Coupon on 3-year notes, semi-annual, 30/360

5-year coupon 5.401% Coupon on 5-year notes, semi-annual, 30/360

Settlement date 26 August 2026 Settlement date for both tranches of notes

Issuer ratings Baa3 (Stable) / BBB (Stable) Issuer ratings by Moody’s / S&P for HDFC Bank Limited

Maturity dates 26 August 2029 and 26 August 2031 Maturity of 3-year and 5-year tranches, respectively

Key Terms

Senior Unsecured Fixed Rate Notes, 144A / Regulation S, GIFT-City Branch, Subscription Agreement, +1 more

5 terms

Senior Unsecured Fixed Rate Notes financial

"Issue Type | | Senior Unsecured Fixed Rate Notes"

144A / Regulation S regulatory

"Format | | 144A / Regulation S"

GIFT-City Branch financial

"HDFC Bank Limited acting through its GIFT-City Branch"

Subscription Agreement financial

"the Subscription Agreement with Lead Managers appointed for the Issue"

A subscription agreement is a legal contract in which an investor agrees to buy a specific number of a company’s shares or other securities under set terms, including price, payment method and conditions for closing the sale. It matters to investors because it legally locks in their purchase and the company’s obligations, determines ownership percentage and any investor rights, and can include conditions or promises that affect future control or returns—like signing a detailed purchase order for equity.

India International Exchange (IFSC) Limited financial

"Listing | | India INX (India International Exchange (IFSC) Limited)"

FAQ

What did HDFC BANK LTD (HDB) announce in this Form 6-K?

HDFC Bank Limited announced completion of a US$ 1,750 million international issuance of senior unsecured bonds through its GIFT City Branch, split into two fixed-rate tranches with 3-year and 5-year tenors, listed on India INX and NSE-IX.

What are the sizes and coupons of the new HDB bonds?

The bank issued US$ 500 million of 3-year notes with a 5.159% coupon and US$ 1,250 million of 5-year notes with a 5.401% coupon, both paying interest semi-annually on a 30/360 basis.

When do the new HDFC BANK LTD (HDB) bonds settle and mature?

Both tranches settle on 26 August 2026. The 3-year notes mature on 26 August 2029, and the 5-year notes mature on 26 August 2031, with principal expected to be redeemed at maturity.

How are the new HDB bonds structured in terms of security and ranking?

The instruments are described as Senior Unsecured Fixed Rate Notes. They are unsecured, with no specific charge over assets, and their ranking is stated as senior unsecured in the capital structure.

What credit ratings are associated with HDFC BANK LTD and these notes?

HDFC Bank Limited has issuer ratings of Baa3 (Stable) from Moody’s and BBB (Stable) from S&P. The new notes have expected issue ratings of Baa3 and BBB from Moody’s and S&P, respectively.

On which exchanges will the new HDB bonds be listed?

The senior unsecured notes are listed on India INX (India International Exchange (IFSC) Limited) and on the NSE International Exchange (NSE-IX), according to the disclosure.

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

Available on EDGAR 08/24/2026 - 10:54 AM Accepted by SEC EDGAR 08/24/2026 - 10:54 AM

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 August 21, 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: August 21, 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

Disclosure

Exhibit 99

August 21, 2026

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Disclosure

We are pleased to inform you that HDFC Bank Limited acting through GIFT City Branch has completed the issue of total US$ 1,750 million Senior Unsecured Bonds.

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


Issuer	HDFC Bank Limited acting through its GIFT-City Branch
Issuer Ratings	Baa3 (Stable) / BBB (Stable) by Moody’s / S&P
Expected Issue Ratings	Baa3 / BBB by Moody’s / S&P
Issue Type	Senior Unsecured Fixed Rate Notes
Format	144A / Regulation S
Issue size	US$ 500 Million	US$ 1,250 Million
Tenor	3 years	5 years
Coupon	5.159%(Semi Annual, 30/360)	5.401%(Semi Annual, 30/360)
Settlement	26 August 2026	26 August 2026
Maturity	26 August 2029	26 August 2031
Charge or security, if any, created over the assets	Unsecured
Ranking	Senior Unsecured
Listing	India INX (India International Exchange (IFSC) Limited) and NSE International Exchange (NSE-IX)
Special right/interest/privileges attached to the instrument and changes thereof	N/A
Delay in payment of interest or principal amount from the due date or default in payment of interest or 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 maturity
ISIN	RegS: USY30909AA69 144A: US42190GAA40	RegS: USY30909AB43 144A: US42190GAB23

Further, we would also like to inform you that the Issuer and the Lead Managers have also executed, inter alia, the Subscription Agreement with Lead Managers appointed for the Issue.

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

Press Releases

EX-99 EX-99 14.4 KB