Axis Bank prices USD 800 mn offshore notes, AT1 at 6.875 percent

AXISBANK · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+1.4%1-day move

₹1358.10

prior close

₹1356.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+0.6+0.7+0.9+1.0+1.4+0.9-0.4+0.6+0.1-1.4-3.7-9.5——

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AI summary

Axis Bank has priced USD 800 million of offshore notes under its Global Medium Term Note programme. This includes USD 500 million of Additional Tier 1 notes at 6.875 percent fixed rate, with semi-annual coupons and no maturity, and USD 300 million of senior unsecured notes at 5.348 percent fixed rate, maturing June 30, 2031. Issue date is June 30, 2026. Notes will be listed on India INX and NSE IX in GIFT City and distributed via syndication. Proceeds will be used as per the offering circular.

Likely market impact

Raises USD 800 million offshore to boost capital and fund growth. AT1 notes are perpetual and can absorb losses in extreme stress.