HDFC Bank Exercises Call Option on US$ 1 Billion Tier 1 Notes, Scheduling Redemption for August 2026
HDFC Bank Ltd. has announced that it has exercised its call option regarding the US$ 1,000,000,000 3.7% Additional Tier 1 Notes. The Bank confirmed the intent to fully redeem these bonds on the First Call Date of August 25, 2026, in accordance with the Terms and Conditions of the notes.The decision to exercise the call option was made by the Bank and involves the redemption of all outstanding securities issued under both Regulation S and Rule 144A.
The US$ 1,000,000,000 3.7% Additional Tier 1 Notes were initially issued on August 25, 2021. The Bank has instructed the Trustee, Citicorp International Limited, to issue the necessary redemption notice to all eligible Bondholders as per established timelines and delivery methods.
The terms governing this call exercise and subsequent redemption are detailed in the following table:
| Nature of Securities | Amount Outstanding | Call/Redemption Date | Redemption Price |
|---|---|---|---|
| Additional Tier 1 Notes sold under Regulation S (USY3119PFH74) | US$ 1,000,000,000 | August 25, 2026 | 100% of the principal amount outstanding, including accrued interest/distributions |
| Additional Tier 1 Notes sold under Rule 144A (US40415FAA93) | US$ 1,000,000,000 | August 25, 2026 | 100% of the principal amount outstanding, including accrued interest/distributions |
The redemption terms stipulate that on the First Call Date, the Bonds will be redeemed in full. This process includes paying the applicable redemption price along with any accrued and unpaid interest or distributions up to the redemption date, as outlined by the Terms and Conditions of the notes.
HDFCBANK Stock Price Movement
Shares of HDFC Bank Limited today slipped by 0.50% to settle at ₹742.8, reflecting a slight downturn compared to its previous close. The equity saw significant movement throughout the session, trading within an intraday range of ₹737.25 and ₹748.25, with over 23 million shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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