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Our Bureau

Mumbai , May 25

HDFC Bank announced that it raised $100 million, denominated in Japanese yen, through equivalent one-year loan facility. This loan was raised to finance the trade assets of the bank, said a press release.

The deal was arranged by a group of international banks including Citigroup, Calyon, DBS Bank, DZ Bank, Lloyds TSB Bank and Nordeutsche Landesbank Girozentrale, Singapore branch.

The deal was launched with an issue size of yen equivalent of $70 million with a greenshoe option of an additional yen equivalent of $30 million, the press release added. The issue was subscribed more than 128 per cent.

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