REG - Axis Bank Ltd Axis Bank Ltd (144A) - Allotment of Non Convertible Debentures

Axis BankAnnouncement

07/03/2024 09:30

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RNS Number : 9972F  Axis Bank Limited  07 March 2024

 

 

AXIS/CO/CS/658/2023-24

 

March 7, 2024

 

Dear Sir(s),

 

 Ref  :  Allotment of Fully Paid, Senior, Rated, Listed, Unsecured, Taxable,
         Redeemable, Long Term Non-Convertible Debenture (Series -7)
 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/649/2022-23 dated March 1, 2024, we hereby inform that the
Committee of Whole-time Directors of Axis Bank Limited, has approved the
allotment of 3,85,100 Fully Paid, Senior, Rated, Listed, Unsecured, Taxable,
Redeemable, Long Term Non-Convertible Debenture (Series -7) of face value Rs.
1,00,000/- each ("Debentures") at par aggregating to
                    Rs. 3,851 crore at a coupon rate of
7.64% 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/9972F_1-2024-3-7.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/9972F_1-2024-3-7.pdf)

This is for your information and records.

 

Thanking You.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

 

Sandeep Poddar

Company Secretary

 

Encl: a/a

 

CC: London Stock Exchange

Singapore Stock Exchange

 

Annexure A

 

 Sr No.  Particulars                                                                     Details
 i.      Size of the issue                                                               Rs. 3,851 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: March 7, 2024

                                                                                         Date of maturity: March 7, 2034
 iv.     Coupon / interest offered, schedule of payment of coupon / interest and         Coupon: 7.64% p.a.
         principal;

                                                                                         Interest will be payable annually on March 7 each year till maturity of the
                                                                                         Debentures.

                                                                                         The Debentures are redeemable at par at the end of 10 years i.e. on March 7,
                                                                                         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 March 7,
         (whether out of profits or out of fresh issue) and debentures;                  2034.

 

 

 

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