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HDFC Bank gets $750 Million from GIFT City to expand business


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HDFC Bank recently obtained $750 million from the GIFT City International Financial Services Centre (IFSC) in Gandhinagar, Gujarat. The purpose is to support the bank’s business expansion. This was achieved through the issuance of senior unsecured bonds denominated in US dollars. The bank stated in a regulatory filing that the funds raised will be utilized for designated green and social projects, aligning with the criteria outlined in the HDFC Bank Sustainable Finance Framework.

Source of Funding:

HDFC Bank acquired $750 million from the GIFT City International Financial Services Centre (IFSC) in Gujarat.

Method of Fundraising:

The bank raised this amount through the issuance of senior unsecured bonds denominated in US dollars.

Utilization of Funds:

The funds will be directed towards green and social projects, in accordance with the criteria specified in the HDFC Bank Sustainable Finance Framework.

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