IDFC First Bank eyes Rs. 3,000 crore in debt capital

After raising Rs 3,000 crore in equity capital recently, IDFC First Bank plans to raise a similar amount through debt capital (Tier-II bonds) to support business growth.

The bank said it had recently obtained an additional rating for Rs 3,000 crore from CRISIL for its Tier-II bonds. This is only an enabling rating to raise Tier-II capital in the future based on growth prospects. There are no immediate plans for the same, as capital adequacy is already high.

Rating agency CRISIL has assigned an “AA+/Stable” rating to the proposed Tier-II Basel III compliant bond offering and reaffirmed the same rating for the other debt instruments.