By Susanna Moon
Chicago, Dec. 1 - Axis Bank Ltd. said it priced Rs. 10 billion of unsecured redeemable non-convertible subordinated debentures eligible for inclusion in tier 2 capital with an over-allotment option for an unspecified amount.
The series 19 lower tier 2 notes have a coupon of 9.73% and are due in 10 years.
The issue opened on Nov. 23 and closes on Thursday.
The bonds are not putable or redeemable without the consent of the Reserve Bank of India, according to a term sheet.
Axis Bank is a Mumbai, India-based lender.
| Issuer: | Axis Bank Ltd.
|
| Issue: | Unsecured redeemable non-convertible subordinated debentures
|
| Amount: | Rs. 10 billion
|
| Maturity: | 10 years
|
| Coupon: | 9.73%
|
| Trade date: | Nov. 23
|
| Settlement date: | Dec. 1
|
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