Axis Bank has got nod from board of directors to allot senior notes aggregating to $500,000,000 under the MTN programme through its DIFC Dubai branch. The Notes will be listed at the Singapore Stock Exchange. The board of directors of the bank has approved the allotment on March 05, 2012.
The Notes have been priced at 440 basis points over the 5-year US Treasury Note, at a price of 99.442% to yield 5.243%. The Notes will be denominated in US dollars, and will bear fixed interest of 5.125% per annum, with interest payable semi-annually in arrears. The Bank will apply the net proceeds to fund its operations overseas.
Axis Bank's net profit increased by 23.62%to Rs 1,102.27 crore for the quarter ended December 31, 2011, from Rs 891.36 crore in the corresponding year-ago quarter, on the back of robust growth in both interest and fee income. Total income rose 44.54% to Rs 7,206.77 crore for the quarter under review from Rs 4,986 crore for the same quarter last year.
Company Name | CMP |
---|---|
HDFC Bank | 1492.20 |
ICICI Bank | 1134.80 |
Axis Bank | 1164.95 |
Indusind Bank | 1442.00 |
Kotak Mahindra Bank | 1707.00 |
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