Axis Bank Ltd.

Axis Bank has received its board’s approval to raise Rs 5,000 crore by issuing bonds on a private placement basis. The company’s board gave approval for the same at its meeting held on June 15, 2017.

The bonds are rated ‘AAA’ by Crisil, ‘AAA hyb’ by ICRA and ‘AAA’ by India Ratings (Ind-Ra). Bonds with AAA rating reflect an exceptional degree of credit-worthiness on the basis that the issuer can easily meet its financial commitments.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.