Axis Bank lists $600 million AT-1 durable bonds on IFSC exchanges

The bond was listed on the global securities market platform of India International Exchange (India INX) and the debt securities market platform of NSE International Exchange (NSE IFSC), both the exchanges said in separate statements on Thursday.

These platforms were launched for listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, etc.

Axis Bank through its IFSC Banking Unit (IBU) in GIFT raised USD 600 million in AT 1 durable bonds under its $5 billion global medium-term note program.

The dollar-denominated, Basel III-compliant AT1 notes had a competitive price of 4.10 percent and attracted investor interest in various geographies.

Injeti Srinivas, President, IFSC said, “The issuance of USD 600 million AT-1 bond under ESG (Environmental, Social and Governance) category marks the beginning of GIFT IFSC, as a preferred destination for raising capital for sustainability. is emerging.” The platform offers issuers an efficient international listing process with minimal turnaround time and investment opportunities for investors around the world.

“We look forward to a healthy pipeline of offshore bond issue listings on our platform, making Indian IFSC the destination of choice for listing overseas issuances. So far, the GSM platform has generated over USD 55 billion in MTN events. and has established bonds worth over USD 31 billion. Issued,” said V Balasubramaniam, Managing Director and Chief Executive Officer, India INX. Since the launch of the NSE IFSC Debt Securities Market, the platform has listed a total of Medium Term Notes (MTNs) worth over USD 22.25 billion; The list of issues totaling USD 16.2 billion (including USD 750 million green bonds) was also seen. Vikram Limaye, Managing Director and Chief Executive Officer, NSE said that the platform will provide local and international issuers with an additional source of green financing to improve investor diversification as well as enable issuers to focus on scaling up their ESG initiatives. To enable issuance of green and durable bonds. .

In a separate statement, India INX said that Adani Green Energy has listed its $750 million foreign currency green bonds on its Global Securities Market platform.

The bonds were rated BA3 (stable) by Moody’s and have generated great interest from investors around the world.

This story has been published without modification in text from a wire agency feed. Only the title has been changed.