By Angela McDaniels
Tacoma, Wash., March 20 - Axis Bank Ltd. priced Rs. 10 billion of 9.3% subordinated debentures, series 20, due 2022, according to a notice filed with the London Stock Exchange.
The issue priced Feb. 27 and was approved by the bank's board of directors Tuesday. It was expected to settle by Tuesday.
There is a Rs. 9.25 billion over-allotment option.
The debentures are not callable or putable.
The debentures will be issued on a private placement basis as lower tier 2 capital. They will be listed on the Bombay Stock Exchange and the National Stock Exchange in India.
Axis Bank is a Mumbai, India-based lender.
| Issuer: | Axis Bank Ltd.
|
| Issue: | Subordinated debentures, series 20
|
| Amount: | Rs. 10 billion
|
| Greenshoe: | Rs. 9.25 billion
|
| Tenor: | 10 years
|
| Coupon: | 9.3%, payable annually
|
| Price: | Par
|
| Call option: | None
|
| Put option: | None
|
| Pricing date: | Feb. 27
|
| Settlement date: | By March 20
|
| Ratings: | Care: AAA
|
| ICRA: AAA
|
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