IDFC First Bank has made its first foray into the international debt market, issuing $500 million in a three-year fixed-rate senior note, supported by a recent investment-grade rating and backed by major global investors at GIFT City.
IDFC First Bank has tapped the overseas debt market for the first time, raising $500 million through a three-year fixed-rate senior note sale due in 2029, the lender said on Wednesday.
The private sector bank said the notes were issued through its IFSC Banking Unit at GIFT City and carried a coupon of 5.625%. The securities were sold to investors outside the United States under Regulation S, a structure used for offshore offerings that are not registered with US regulators.
The deal comes shortly after S&P Global Ratings assigned IDFC First Bank an investment-grade long-term issuer credit rating of BBB- with a stable outlook on August 13, 2026. The bank said the new rating helped support its debut in the global debt capital markets.
According to the bank, the issue drew backing from large international institutions including BlackRock, Capital Group and AllianceBernstein. GIFT City, India’s international financial services centre in Gandhinagar, has become an increasingly important route for banks and companies seeking foreign funding under a framework designed to ease cross-border finance and offer tax advantages.
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