By Susanna Moon
Chicago, June 28 – Axis Bank Ltd. notified the Bombay Stock Exchange that it sold Rs. 35 billion of 8¾% subordinated perpetual debentures.
The bank approved the allotment of 35,000 additional tier 1 Basel 3 compliant debentures with a face value of Rs. 1 million each in a private placement, according to a company notice.
The lender is based in Mumbai.
| Issuer: | Axis Bank Ltd.
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| Issue: | Subordinated debentures
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| Amount: | Rs. 35 billion
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| Maturity: | Perpetual
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| Coupon: | 8¾%
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| Call option: | Five years
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| Announcement date: | June 28
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| Rating: | Crisil: AA+/stable
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| ICRA: AA+(hyb)
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