Axis Bank Completes Pricing for USD-Denominated Global Medium Term Notes, Issues Two Tranches
Axis Bank Limited has completed the pricing of its issuance of USD-denominated notes under the Global Medium Term Note (GMTN) program. The issuance includes two distinct tranches: Additional Tier 1 notes and Senior Notes, both set to be issued on June 30, 2026. The bank also confirmed that it has executed a Subscription Agreement with the Managers appointed for the Issue.The two notes are slated for listing on the Global Securities Market of the India International Exchange (India INX) and the Debt Securities Market of the NSE IFSC Limited (NSE IX). The details of both instruments, covering their structure, coupon rates, and nominal amounts, are provided below.
Additional Tier 1 Notes Details
The bank's issuance of Additional Tier 1 notes is structured as Series 31, Tranche 1. These notes are designated to be issued at a fixed rate and have been priced at 100 per cent. of the Aggregate Nominal Amount. The total aggregate nominal amount for this tranche is USD 500,000,000.Key features of the Additional Tier 1 Notes include:
- Issue Date: June 30, 2026
- Interest Rate: Fixed rate of 6.875 per cent. per annum
- Payment Schedule: Interest is payable semi-annually in arrears on each Interest Payment Date.
Senior Notes Details
The second tranche comprises Senior Unsecured Fixed Rate Notes, identified as Series 10, Tranche 1. These notes carry an aggregate nominal amount of USD 300,000,000 and will also be issued at par (100 per cent. of the Aggregate Nominal Amount).The Senior Notes have a longer maturity period compared to the Additional Tier 1s:
- Issue Date: June 30, 2026
- Maturity Date: June 30, 2031
- Interest Rate: Fixed rate of 5.348 per cent. per annum
- Payment Schedule: Coupon/interest is payable semi-annually in arrears on the designated Interest Payment Date.
Note Summary
The following table summarizes the critical financial details for both tranches:| Feature | Additional Tier 1 Notes (Series 31) | Senior Notes (Series 10) |
|---|---|---|
| Instrument Type | Additional Tier 1 | Senior Unsecured Fixed Rate Note |
| Aggregate Nominal Amount | USD 500,000,000 | USD 300,000,000 |
| Issue Date | June 30, 2026 | June 30, 2026 |
| Coupon Rate | 6.875 per cent. p.a. | 5.348 per cent. p.a. |
| Maturity Date | Not applicable | June 30, 2031 |
The use of proceeds for the notes has been set out in the Offering Circular. Both instruments are structured as syndicated offerings and carry no charge or security created over the assets.
AXISBANK Stock Price Movement
Shares of Axis Bank Limited slipped 0.04% on Tuesday to settle at ₹1363.5, as market participants observed continued selling pressure during the session. The stock traded within a range bounded by a daily low of ₹1356.1 and a high of ₹1371.9, with nearly 5.75 million shares transacted.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.