IDFC FIRST Bank has raised $500 million through its maiden international bond issuance, with global investment firms BlackRock and Capital Group among the marquee institutional investors anchoring the transaction. The private sector lender, acting through its IFSC Banking Unit at GIFT City, successfully priced and allocated its inaugural $500 million three-year fixed-rate senior notes due 2029.

625% and were placed with investors outside the United States under the Regulation S format. The $500 million transaction marks IDFC FIRST Bank’s first international bond issuance and its entry into the global debt capital markets.

Other marquee global institutional investors participating in the transaction included AllianceBernstein. The bank said it has strengthened its balance sheet over the past few years, built a granular retail deposit franchise, improved profitability and maintained asset quality, while continuing to invest in technology, distribution and customer service.

The successful placement of the notes broadens the bank’s funding base and establishes an important new avenue for accessing international capital markets. Commenting on the transaction, Sudhanshu Jain, IDFC FIRST Bank, said, “This inaugural transaction is a landmark milestone for IDFC FIRST Bank.

”“The successful execution of the transaction, coming shortly after our investment-grade rating from S&P Global Ratings, reflects growing recognition of the strength of our franchise, the resilience of our balance sheet and the progress we have made over the last several years. “This issuance diversifies our funding sources, expands our access to global capital markets and supports our long-term growth ambitions,” he said.

60% from the previous close. 39% so far this year, according to exchange data.