Page 28 - Banking Finance February 2026

PRESS RELEASE

India Exim Bank Creates History with US$ 1 Billion Dual-Tranche

Bond Issuance: Prices First-Ever 30-Year Issuance by an Indian

Banking Financial Institution

India Exim Bank has successfully issued USD 1 billion dual-tranche Senior Unsecured Bonds spread across 10-year (USD
500 million) and 30-year (USD 500 million) in the 144A/Reg-S format. This issuance makes India Exim Bank the first Indian
issuer to open the markets for dollar bond issuances in 2026. Notably, this transaction also marks the first ever 30-year
USD bond issuance by any Indian Banking Financial Institution in the international bond markets, thus establishing a new
benchmark for the sector in the global capital markets.
The transaction received an overwhelming response and are priced at a spread of 85bps over the 10-year US Treasury
benchmark and at a spread of 95bps over the 30-year US Treasury benchmark.
This also marks the lowest spread over Treasuries ever achieved by any Indian issuer in the public USD bond markets on
both the 10-year and the 30-year tenors. The 10-year issuance was priced inside of India Exim Bank’s secondary curve.
Further, the spread over Treasuries differential of 10 bps between the 10-year and 30-year is the lowest for any USD
bond issuer from Asia ex-Japan in the last 5 years.
In terms of geographical distribution, the bonds were well distributed, with 59% in Asia, 13% in EMEA region and 28%
in the USA. In terms of distribution to investor types, the bonds were distributed to high quality investors with around
73% distributed to Asset and Fund managers, 11% to Banks, and 8% to Insurance, Pension Funds, followed by private
banks and others.
BofA Securities, Citigroup, HSBC, J.P. Morgan and Standard Chartered Bank acted as Joint Lead Managers and Joint
Bookrunners for the offering. India Exim Bank has been rated as Baa3 (Stable) by Moody's, BBB (Stable) by S&P, BBB-
(Stable) by Fitch and BBB+ (Stable) by CareEdge.

HDFC Bank Launches Startup Lounges in Bengaluru and
Guwahati on National Startup Day

HDFC Bank announced the launch of its exclusive Startup Lounges ahead of the 10th anniversary of the National Startup
Day on January 16. The startup lounges, a part of the Bank’s continued focus on strengthening engagement with India’s
startup ecosystem, will be launched at the HSR Layout, 24th Main Road branch in Bengaluru, and the GS Road branch,
Guwahati.

Startup Lounges will be dedicated to servicing startups while also providing a professional environment for them to work
and ideate. Further, the lounges will provide the Bank an ideal space to connect with founders, investors, venture capital
firms, and the broader startup ecosystem. The space will also see the Bank host the events involving the startup ecosystem.
Mr. Sampath Kumar, Group Head - Retail Branch Banking and Alternate Banking Channel & Partnerships, HDFC Bank,
with responsibility for West and South regions, said, “With Bengaluru being a vibrant startup hub of the country, the
Bank’s Startup Lounge in the city will serve as a networking centre for founders who will be able to work with like-
minded people. They can also benefit from the Bank's exclusive suite of products and services under the Startup Buildup
programme. We hope that our Startup Lounge in the city will provide the environment for the startup ecosystem to
flourish more.”
Mr. Arun Mediratta, Group Head - Retail Branch Banking and Alternate Banking Channel & Partnerships, HDFC Bank,
with responsibility for North, East and Central regions said, “Guwahati is fast emerging as a centre of the startup ecosystem
in the north east region of India, supporting a spirit of entrepreneurship. We’re pleased to have opened a Startup Lounge
to welcome startup founders to use the space for working and engaging with the startup community.”

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