India’s second largest private bank, HDFC Bank said that, on Friday, it has raised Rs 1,728 crore through the private issue of subordinated debt.

On a private placement basis, the bank has issued unsecured non-convertible redeemable subordinated bonds in the nature of debentures.

The Bank sold upper Tier II bonds for an amount of Rs 578 crore and issued lower Tier II bonds raising an amount of Rs 1,150 crore.

HDFC Bank provides a wide range of services in treasury, wholesale banking, and retail banking.

Incorporated in August 1994, HDFC Bank has 1,412 branches in 528 Indian towns and cities.