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India’s Axis Bank allots Rs. 50 billion of non-convertible debentures
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Axis Bank Ltd.’s board of directors allotted Rs. 50 billion of senior unsecured redeemable non-convertible debentures on Thursday, according to a notice with the Bombay Stock Exchange.
The 50,000 debentures with a face value of Rs. 1 million each were issued on a private placement basis.
The debentures will be listed on the Wholesale Debt Market segment of the BSE Ltd. and the National Stock Exchange of India Ltd.
The securities are rated AAA/stable by Crisil and AAA by ICRA and CARE.
The bank is based in Mumbai.
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