28 Jun 2017 15:14
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28.06.2017
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Dear Sirs,
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SUB: ALLOTMENT OF UNSECURED, SUBORDINATED, PERPETUAL, ADDITIONAL TIER 1, BASEL III COMPLIANT NON CONVERTIBLE DEBENTURES (SERIES - 28) OF THE FACE VALUE OF RS.10 LAKH EACH FOR CASH AT PAR AGGREGATING TO Rs. 3,500 CRORE (RUPEES THREE THOUSAND AND FIVE HUNDRED CRORE ONLY) ON A PRIVATE PLACEMENT BASIS
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REF: REGULATION 30 READ WITH PARA A OF PART A OF SCHEDULE III OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
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Further to our letter no. AXIS/CO/CS/243/2017-18 dated 22.06.2017, relating to 'Prior Intimation Regarding Issue of Non-Convertible Debt Securities', we are pleased to inform that the Board of Directors of the Bank have today approved the allotment of 35,000 unsecured subordinated perpetual additional tier 1 basel III compliant non-convertible debentures (series - 28) of the face value of Rs.10 lakh each for cash at par aggregating to Rs. 3,500 crore, on a private placement basis.
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The Bank has successfully issued Rs 3,500 crore Basel III compliant AT 1 (Additional Tier 1) Debentures today through private placement to augment the Tier 1 capital base. The perpetual Debentures with a 5 year call are priced at a fine coupon rate of 8.75%.
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These Debentures will strengthen the overall Capital Adequacy Ratio of the Bank by an estimated 74 basis points and also enhance the long term resources.
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The said Debentures will be listed on the Wholesale Debt Market segment of the BSE Limited and National Stock Exchange of India Limited.
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The said Debentures are rated "CRISIL AA+/Stable" by CRISIL, "ICRA AA+(hyb)" by ICRA and "IND AA+" by India Ratings & Research Pvt. Ltd.
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You are requested to take note of above and arrange to bring it to the notice of all concerned.
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Thanking you,
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Yours Sincerely,
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For Axis Bank Limited,
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Girish V. Koliyote
Company SecretaryÂ
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