India New Issue-HDFC Life Insurance to issue 10-year bonds, bankers say

HDFC Life Insurance

10/12/2025 09:18

MUMBAI, Dec 10 (Reuters) - India's HDFC Life Insurance HDFL.NS plans to raise 7.5 billion rupees ($83.41 million), including a greenshoe option of 500 million rupees, through the sale of bonds maturing in 10 years, three bankers said on Wednesday.

The insurer will pay a coupon of 7.63% and has invited bids from bankers and investors for the issue on Friday, they said.

The bonds carry a call option at the end of the fifth year and every year thereafter.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on December 10:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
HDFC Life Insurance
10 years
7.63
7+0.5
December 12
AAA (Icra)
HUDCO
7 years
6.98
19.05
December 10
AAA (Icra, India Ratings)
Bank of India
10 years
7.28
25
December 10
AA+ (Crisil, Care)
PGC
10 years
To be decided
10+28
December 11
AAA (Crisil, Care, Icra)

*Size includes base plus greenshoe for some issues

($1 = 89.9180 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))