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Axis Bank mops up $250 million via overseas bonds issue

23 Aug 2012 Evaluate

Axis Bank has raised $250 million through selling of overseas dollar bonds at a coupon of 5.13%. This fresh sale is only re-opening of the bank’s existing 5.125% senior unsecured notes due 2017.

Barclays, Bank of America Merrill Lynch, Citigroup, HSBC, JP Morgan, and Standard Chartered Bank acted as joint book-runners and lead managers for the bond sale.

Following the bond issue, the bank has joined its larger peers like SBI and ICICI Bank to sell overseas dollar bonds. Recently, the largest private sector lender ICICI Bank had raised $750 million from dollar bonds sale in a 5.5-year fixed rate notes carrying a coupon of 4.70%, through its Dubai branch.

Peers
Company Name CMP
HDFC Bank 728.10
ICICI Bank 1396.80
Axis Bank 1286.45
Kotak Mahindra Bank 446.00
Indusind Bank 874.00
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