HDFC to become first issuer of 'masala bonds'
Mortgage lender HDFC on Monday said that it plans to raise up to ₹3,000 crore through synthetic INR notes called 'masala bonds', a first for an Indian company. HDFC added that it has appointed Axis Bank, Credit Suisse, and Nomura as joint bookrunners and lead managers to the issue. 'Masala bonds' are rupee-denominated borrowings by Indian entities in overseas markets. 