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03 February, 2023 12:59 IST
Axis Bank allots NCDs aggregating Rs 26 bn
Source: IRIS | 24 Dec, 2021, 08.28AM
Rating: NAN / 5 stars.
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Axis Bank, private sector bank in India said that the Committee of Whole-time Directors of the Bank, has approved the allotment of 26,000 Senior Unsecured Taxable Redeemable Non-Convertible Debentures (SERIES- 6) of the face value of Rs. 10 lakh each (Debentures), for cash, at par aggregating to Rs. 26 billion at coupon rate of 6.99% p.a. payable annually, on a private placement basis.  Interest will be payable annually on December 22nd each year till maturity as per terms of the said issuance.

The debentures are redeemable at par at the end of 10 years (redemption date being 22nd December 2031). There are no special rights/ privileges attached to the debentures.

The said Debentures are rated "AAA/Stable" by CRISIL and AAA/Stable by ICRA. The said Debentures will be listed on the Wholesale Debt Market segment of the BSE and National Stock Exchange of India.

Shares of the bank gained Rs 8.85 or 1.32%, to settle at Rs 678.25. The total volume of shares traded was 316, 520 at the BSE (Thursday).


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