HDFC to raise $1Bn. for buying HDFC bank equity

This Business Standard article reports HDFC raising $1 Bn. debt finance for it's stake purchase in HDFC Bank over 18 months.

Fresh equity issuance being ruled out, raising debt remains only recourse.

HDFC Bank acquired Centurion Bank of Punjab in an all-stock deal. Following this, HDFC Bank announced a private placement of equity to HDFC to enable the mortgage lender to maintain its stake at the current level of 23.3%. This entails an investment of almost $ 1 billion by HDFC.

I hope market liquidating financing mechanisms are avoided (e.g Orchid Chemicals)