Axis Bank raises $500 mn via bonds from overseas market

NEW DELHI: Private sector lender Axis Bank on Tuesday said that it has raised USD 500 million (about Rs 2,250 crore) from bonds subscribed mainly by the US and European banks and pension funds.

The bank's wholly-owned branch in the Dubai International Finance Centre priced USD 500 million Senior Unsecured Notes 2016 at 4.75 per cent, Axis Bank said in a statement.

The notes are denominated in US dollars and bear fixed interest payments of 4.75 per cent with interest payable semi-annually in arrears, it said, adding, it distributed to a diverse investor base comprising asset management companies, banks, pension funds and others in the US, Europe and Asia.

The offering, which enabled Axis Bank Ltd to diversify its investor base, was the bank's debut issuance, it said.