REG - Axis Bank Ltd Axis Bank Ltd (144A) - Allotment of NCDs Series 8

Axis BankAnnouncement

05/09/2024 09:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240905:nRSE0632Da&default-theme=true

RNS Number : 0632D  Axis Bank Limited  05 September 2024

 

 

AXIS/CO/CS/326/2024-25

 

September 5, 2024

 

Dear Sir(s),

 

 Ref  :  Allotment of Fully Paid, Senior, Rated, Listed, Unsecured, Taxable,
         Redeemable, Long Term Non-Convertible Debenture (Series - 8)
 Sub  :  Regulation 30 of the Securities and Exchange Board of India (Listing
         Obligations and Disclosure Requirements) Regulations, 2015 ("Listing
         Regulations")

 

Pursuant to Regulation 30 of the Listing Regulations and in reference to our
letter AXIS/CO/CS/316/2024-25 dated August 30, 2024, we hereby inform that the
Committee of Whole-time Directors of Axis Bank Limited, has approved the
allotment of 3,92,500 Fully Paid, Senior, Rated, Listed, Unsecured, Taxable,
Redeemable, Long Term Non-Convertible Debenture (Series - 8) of face value Rs.
1,00,000/- each ("Debentures") at par aggregating to Rs. 3,925 crore at a
coupon rate of 7.45% p.a. payable annually, on a private placement basis.

 

The said NCDs are rated "CRISIL AAA/Stable" by CRISIL Ratings Limited and
" ICRA AAA/Stable" by ICRA Limited. Details required to be disclosed as per
SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are
enclosed as Annexure A.

http://www.rns-pdf.londonstockexchange.com/rns/0632D_1-2024-9-5.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0632D_1-2024-9-5.pdf)

 

This is for your information and records.

 

Thanking You.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

 

Sandeep Poddar

Company Secretary

 

 

Annexure A

 

 Sr No.  Particulars                                                                     Details
 i.      Size of the issue                                                               Rs. 3,925 crore
 ii.     Whether proposed to be listed? If yes, name of the stock exchange(s);           Yes

                                                                                         (i)   BSE Limited

                                                                                         (ii)  National Stock Exchange of India Limited
 iii.    Tenure of the instrument - date of allotment and date of maturity;              Tenure: 10 years

                                                                                         Date of allotment: September 5, 2024

                                                                                         Date of maturity: September 5, 2034
 iv.     Coupon / interest offered, schedule of payment of coupon / interest and         Coupon: 7.45% p.a.
         principal;

                                                                                         Interest will be payable annually on September 5, each year till maturity of
                                                                                         the Debentures.

                                                                                         The Debentures are redeemable at par at the end of 10 years i.e. on September
                                                                                         5, 2034
 v.      Charge / security, if any, created over the assets;                             NA. The Debentures are unsecured.
 vi.     Special right / interest / privileges attached to the instrument and changes    There are no special rights/ privileges attached to the Debentures.
         thereof;
 vii.    delay in payment of interest / principal amount for a period of more than       NA
         three months from the due date or default in payment of interest / principal;
 viii.   details of any letter or comments regarding payment / non-payment of interest,  NA
         principal on due dates, or any other matter concerning the security and /or
         the assets along with its comments thereon, if any;
 ix.     details of redemption of preference shares indicating the manner of redemption  The Debentures are redeemable at par at the end of 10 years i.e. on September
         (whether out of profits or out of fresh issue) and debentures;                  5, 2034.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAPNSEFKLEEA