Axis Bank Exercises Call Option to Redeem US$600 Million in Additional Tier 1 Notes
Axis Bank Limited has decided to exercise the call option to fully redeem US$600,000,000 worth of Additional Tier 1 Notes. The notes were originally issued on September 8, 2021, with a coupon rate of 4.10 per cent.The Bank will redeem the specified Notes in full on the First Call Date, which is September 8, 2026. The redemption will be completed at the applicable redemption price, along with all accrued and unpaid interest/distributions, as per the terms of the Notes.
The redemption pertains to two sets of securities identified by ISIN and CUSIP. The details of the notes and the redemption are as follows:
| Nature of Securities | Amount Outstanding | Call/Redemption Date | Redemption Price |
|---|---|---|---|
| Additional Tier 1 Notes | US$600,000,000 | September 8, 2026 | 100% (par) |
The redemption price for the notes is set at 100.000% of the aggregate principal amount. Interest on the Notes called for redemption will cease to accrue on and after the Redemption Date.
The transaction reflects that the Issuer secured the prior approval of the Reserve Bank of India (Department of Banking Regulation) on July 31, 2026. Furthermore, the Bank confirmed that its capital position would be well above its minimum capital requirements after the call option is exercised.
AXISBANK Stock Price Movement
On Monday, Axis Bank Limited shares slipped by 0.79% to settle at ₹1236 after trading closed for the day. The equity saw a volume of 3.78 million shares on Monday, highlighting steady participation in the financial services stock.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.
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