By Susanna Moon
Chicago, Dec. 4 – Axis Bank Ltd. said it closed the Rs. 5,705,000,000 of 8.85% senior redeemable debentures due Dec. 5, 2024.
The issue received “very strong demand from pension, provident funds, mutual funds, multilateral financial institutions, foreign financial institutions and insurance companies. The issue received an overwhelming response from the investors,” according to a company press release.
Proceeds will be used for enhancing long-term resources for funding infrastructure and affordable housing.
The lender is based in Mumbai.
| Issuer: | Axis Bank Ltd.
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| Issue: | Senior redeemable debentures
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| Amount: | Rs. 5,705,000,000
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| Maturity: | Dec. 5, 2024
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| Coupon: | 8.85%
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 5
|
| Rating: | Crisil & ICRA: AAA
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