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IDFC First Bank has raised USD 500 million through its first international bond issuance, marking its entry into the global debt capital markets. The three-year bonds were issued through the bank’s IFSC Banking Unit at GIFT City and carry a fixed coupon of 5.625 per cent. The notes were placed with investors outside the US under the Regulation S format. Global institutional investors including BlackRock, Capital Group and AllianceBernstein anchored the issue, while S&P Global Ratings assigned the bonds a BBB- long-term issuer credit rating with a stable outlook.
IDFC First Bank has raised USD 500 million through its maiden international bond issuance, with global investors including BlackRock, Capital Group and AllianceBernstein anchoring the transaction.
The bonds were issued through the bank’s IFSC Banking Unit at GIFT City with a three-year maturity and a fixed coupon of 5.625 per cent. The notes were placed with investors outside the US under the Regulation S format.
The transaction marks IDFC First Bank’s entry into the international debt capital markets. S&P Global Ratings has assigned a BBB- long-term issuer credit rating with a stable outlook to the bond issuance.
The bank said participation from major global institutional investors reflected confidence in its financial position, franchise growth, risk management and long-term prospects.
The successful issue gives IDFC First Bank a broader funding base and provides it with a new channel to access international capital markets.
Sudhanshu Jain, Chief Financial Officer, IDFC First Bank, said the successful execution of the transaction reflected growing recognition of the strength of the bank’s franchise and the resilience of its balance sheet, along with the progress made by the bank over the past several years.
The fundraising comes as Indian banks have increasingly explored international debt markets to diversify funding sources and access a wider institutional investor base. For IDFC First Bank, the issue provides an additional funding avenue beyond its domestic market.
Source PTI
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