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| Exchange Received Time 28/06/2017 19:35:53 Exchange Disseminated Time 28/06/2017 19:35:58 Time Taken 00:00:05 | Further to our letter no. AXIS/CO/CS/243/2017-18 dated 22.06.2017, relating to 'Prior Intimation Regarding Issue of Non-Convertible Debt Securities', we are pleased to inform that the Board of Directors of the Bank have today approved the allotment of 35,000 Unsecured Subordinated Perpetual Additional Tier 1 Basel III compliant Non-convertible Debentures (Sr-28) of the FV of Rs.10 lakh each for cash at par aggregating to Rs.3,500 crore, on a private placement basis.
The Bank has successfully issued Rs.3,500 crore Basel III compliant AT 1 (Additional Tier 1) Debentures today through private placement to augment the Tier 1 capital base. The perpetual Debentures with a 5 year call are priced at a fine coupon rate of 8.75%.
The said Debentures are rated 'CRISIL AA+/Stable' by CRISIL, 'ICRA AA+(hyb)' by ICRA and 'IND AA+' by India Ratings & Research Pvt. Ltd. |
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