Juris Corp, Linklaters and Clifford Chance advised on HDFC Bank’s landmark US$1.75 Billion international notes offering through GIFT City.
The transaction is understood to be the largest overseas bond issuance by an Indian bank since the global financial crisis, undertaken through India’s International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City). The notes were issued through HDFC Bank’s GIFT City Branch and are listed on the India International Exchange and the NSE International Exchange. The proceeds shall be utilised towards the funding requirements of the Bank’s overseas branches, overseas business expansion initiatives and general corporate purposes.
The transaction represents a significant milestone in the evolution of GIFT City as a global financial centre and international capital-raising platform. Its successful execution demonstrates the growing ability of Indian financial institutions to access international markets through IFSC and further reflects strong international investor confidence in India’s banking sector.
Juris Corp acted as Indian legal counsel to HDFC Bank Limited in connection with its landmark US$1.75 billion dual-tranche senior unsecured notes offering issued through its GIFT City Branch under Rule 144A and Regulation S of the U.S. Securities Act.
The Juris Corp team was led by Founder Jayesh H (Senior Partner) and Saurabh Sharma (Partner) and included Apurva Kanvinde (Partner), Smit Parekh (Principal Associate), Shreyansh Sethi (Senior Associate), Dhwani Bansdawala (Senior Associate), Viidhi Chopra (Senior Associate), Bhumika Makhija (Associate) and Aakash Sinha (Associate).
Linklaters advised HDFC Bank Limited on the said transaction.
The Linklaters team was led by partner and Head of India Practice Amit Singh and capital markets partner Xunming Lim, with support from managing associates Ashwin Tiwari and Alwyn Loy and associate Edward Lee.
Clifford Chance advised the joint global coordinators, lead managers and bookrunners on this transaction.
BNP Paribas, J.P. Morgan Securities plc, Mashreqbank psc, Merrill Lynch (Singapore) Pte. Ltd., MUFG Securities Asia Limited Singapore Branch, Société Générale, Standard Chartered Bank and Wells Fargo Securities, LLC acted as joint global coordinators, lead managers and bookrunners on the offering.
Partner Gareth Deiner led the Clifford Chance team with support from counsel Stephanie Liman, senior associate Nigel Leong and associate Adam Fong.
