Mumbai, Aug 16 (IANS): HDFC Bank will raise funds by issuing Additional Tier-1 bonds in the international markets.

In July, the Board of Directors of the bank had contemplated raising of long-term funds through the issuance of US$ Basel-III Compliant Additional Tier-1 Bonds in the international markets, subject to market conditions.

"We hereby inform you that the Bank had approved the issuing of debt instruments in the form of the Notes, subject to market conditions," HDFC Bank said in a regulatory filing on Monday.

It added that an offering memorandum has been prepared and shall be made available to the prospective investors in relation to the contemplated issue of notes. The notes will not be offered or sold in India under the applicable laws, including the Companies Act, 2013, as amended from time to time.

Around 1.20 p.m., shares of HDFC Bank on the BSE were trading at Rs 1,530.95, higher by Rs 5.85 or 0.38 per cent from its previous close.