Axis Bank lists $600 million Sustainable USD AT1 notes on India INX and NSE IFSC at GIFT City
By Pinkerala News Desk | Sep 10, 2021
- first bank to issue sustainable USD at1 bond from its IBU branch at gift city
- first such bond listed on India inx and nse ifsc exchanges in gift city
Mumbai, September 09, 2021: axis bank, India's third-largest private sector bank, today announced the listing of its $600 million sustainable USD additional tier 1 (at1) notes on India inx and nse ifsc exchanges in the presence of Mr. injeti Srinivas, chairman, ifsca and Mr, Tapan Ray, MD and group CEO, gift city during a virtual listing ceremony.
last week, the bank had announced the issuance of these sustainable at1 notes in the overseas markets through its IBU branch at gift city. this was the first such issuance from an Indian bank, second in Asia, and third globally. the said at1 notes are now being listed on Singapore, London, and India inx and nse ifsc exchanges.
commenting on the listing ceremony, Mr. Amitabh Chaudhry, MD & CEO, axis bank said: “This is a landmark issuance, and it shows axis bank’s commitment to the government’s vision of developing gift city as an internal financial center of repute. we hope that it will encourage other market players to also look at gift city as a venue of choice for issuance and listing of their debt and equity products”.
Mr. Tapan ray, md & group CEO, gift city said, “gift ifsc is now emerging as a destination for raising capital and debt by Indian issuers. axis bank’s sustainable bond issuance through gift city is a welcome step. the ecosystem, ease of doing business, and cost-efficiency make gift ifsc a preferred platform for raising and listing debt. we aim to make gift city a green & sustainable finance hub; we congratulate axis bank and ifsc exchanges for their commitment towards achieving this goal.”
Mr. injeti Srinivas, chairman, ifsc authority said, “the USD 600 mn at – 1 bond issuance under wsg category marks the beginning of gift ifsc emerging as a preferred destination for raising of capital for sustainability.”
about axis bank:
axis bank is the third-largest private sector bank in India. axis bank offers the entire spectrum of services to customer segments covering large and mid-corporates, sme, agriculture, and retail businesses. with its 4,600 domestic branches (including extension counters) and 11,061 ATMs across the country as of 30th June 2021, the network of axis bank spreads across 2,628 centers, enabling the bank to reach out to a large cross-section of customers with an array of products and services. the axis group includes axis mutual fund, axis securities ltd., axis finance, axis trustee, axis capital, a.treds ltd., free charge, and axis bank foundation.
for further information on axis bank, please refer to the website: https://www.axisbank.com
about axis bank gift city IBU: axis gift city ibu has been present in gift city in 2018. ever since, axis bank gift city has taken rapid strides to ramp up its presence at gift city ifsc and, currently has the largest and most expansive presence here. axis bank’s gift city ibu operates major businesses which include corporate banking, treasury, trade finance, and capital markets.
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