(Reuters) - HDFC Bank Ltd said on Monday it plans to raise up to 500 billion rupees ($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.
($1 = 69.5130 Indian rupees)
Reporting by Chris Thomas in Bengaluru; Editing by Shreejay Sinha