IDFC FIRST Bank has priced a senior note issuance totaling $350 million with a five-year maturity, marking the bank's second foreign bond issuance in one week.
These notes, issued through the bank's IFSC Banking Unit, carry a coupon rate of 5.80 percent and are due to mature on August 28, 2031. Interest payments will be made semi-annually, specifically on February 28 and August 28, commencing on February 28, 2027.
The bonds are scheduled for distribution on August 28 and are structured as an unsecured private placement under Reg S. It is proposed that the issuance be included in the Vienna MTF and the Global Securities Market of India INX, as well as the Debt Securities Market of NSE IX.
This recent issuance followed the bank's first international bond placement on August 18, when it launched a three-year issuance worth $500 million. The following day, after high investor demand, the volume of this issuance was increased by $100 million to $600 million.
In its filing to the exchange, the bank reported that both issuances demonstrated strong demand from global institutional investors.