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India’s Axis Bank allots Rs. 30 billion of nonconvertible debentures
By Sarah Lizee
Olympia, Wash., Dec. 28 – Axis Bank Ltd. notified the Bombay Stock Exchange that it allotted Rs. 30 billion of 8.6% senior unsecured redeemable nonconvertible debentures.
The bank approved the allotment of 30,000 debentures with a face value of Rs. 1 million each in a private placement, according to a company notice.
The debentures will be listed on the wholesale debt market segment of the BSE Ltd. and National Stock Exchange of India Ltd.
The securities are rated AAA/stable by Crisil and AAA by ICRA.
The lender is based in Mumbai.
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