HDFC Bank plans to raise Rs 50,000 crore via debt issue

HDFC Bank Ltd said on Monday it plans to raise up to Rs 50,000 crore ($7.19 billion) by issuing debt over the next 12 months.

The bank proposes to issue perpetual debt instruments, tier II capital bonds and long-term bonds, India's largest lender by market capitalisation said in a statement.

The bank's board will consider the plan when it meets on April 20 to release its quarterly results.