Axis Bank Ltd.

Axis Bank has raised $600 million from offshore investors by selling sustainable additional tier-1 (AT1) bonds at a coupon of 4.1 per cent. The third largest private sector lender by assets launched the issue of the perpetual bonds with the initial pricing guidance at 4.4 per cent, looking to raise up to $1 billion. The bank raised $600 million from its GIFT City branch. The bank is the third lender in quick succession to raise money from the AT1 route after HDFC Bank raised $1 billion from overseas investors last month, and SBI raised Rs 4,000 crore from domestic investors.

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.