India's Axis to issue debt as tier 1, 2 capital in private placements

By Susanna Moon

Chicago, June 22 - Axis Bank Ltd. said its board of directors approved issuing debt in one or more tranches at a meeting held Friday.

The debt will be issued in private placements as tier 1 and tier 2 capital within the limits prescribed by regulatory authorities, according to a bank notice.

The bank is based in Mumbai.

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