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HDFC Bank raises over Rs. 1,700 crore

MUMBAI: HDFC Bank said it had raised Rs. 1,728 crore through the private placement of subordinated debt. The bank has issued unsecured non-convertible redeemable subordinated bonds in the nature of debentures, HDFC said on Friday in a regulatory filing to the Bombay Stock Exchange. HDFC Bank sold upper Tier-II bonds for an amount of Rs 578 crore and issued lower Tier-II bonds raising an amount of Rs 1,150 crore.

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