HDFC Bank exercises call option on ₹7,390 Cr AT1 notes

HDFC Bank Limited has announced the exercise of its call option on INR 7,39,00,00,000 (₹7,390 Crore) Additional Tier 1 (AT1) notes. These Rupee Denominated bonds were issued overseas on September 30, 2021. The bank will redeem these bonds in full on the First Call Date, September 30, 2026, at 100% of the principal amount outstanding, plus accrued interest. A notice of redemption will be issued to bondholders by the Trustee, Citibank, N.A, London Branch, on September 1, 2026. This action is in accordance with the terms of the Trust Deed and Condition 7.3 (Redemption at the Option of the Issuer).