Axis Bank lists US$100 million AT1 Notes on India INX and NSE IX
Axis Bank has received final listing approval for US$100 million Additional Tier 1 Notes on India INX and NSE IX, carrying a 6.875% coupon. These notes consolidate with a prior US$500 million issue issued on June 30, 2026, bringing the series total to US$600 million. The perpetual, unsecured notes rank junior to the bank's Senior Notes.
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Axis Bank has received final listing approval for US$100,000,000 Additional Tier 1 Notes carrying a coupon rate of 6.875% per annum. The notes are listed on the Global Securities Market of the India International Exchange (IFSC) Limited and the Debt Securities Market of the NSE IFSC Limited. This issuance strengthens the bank's capital base and will be consolidated with the US$500,000,000 6.875% Additional Tier 1 Notes issued on June 30, 2026, bringing the total aggregate for the series to US$600,000,000.
The allotment was completed on July 14, 2026, in accordance with applicable laws and regulatory requirements. The bank disclosed this development under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. These perpetual instruments are unsecured and rank junior to the bank's Senior Notes.
Key Details of the Additional Issuance
| Particulars | Details |
|---|---|
| Series Number | 31 |
| Tranche Number | 2 |
| Aggregate Nominal Amount (Series) | US$600,000,000 |
| Aggregate Nominal Amount (Tranche) | US$100,000,000 |
| Currency | US$ |
| Issue Date | July 14, 2026 |
| Maturity Date | Not applicable |
| Interest Basis | Fixed rate |
| Coupon Rate | 6.875% per annum |
The bank had previously allotted US$300,000,000 Senior Notes, categorized as Series 10, on June 30, 2026. These notes have a tenor of five years maturing on June 30, 2031, and offer a coupon of 5.348% per annum. The Additional Tier 1 Notes rank junior to these Senior Notes. The notes are not being offered or sold to persons resident in India or the United States.
Historical Stock Returns for Axis Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.96% | -0.81% | -2.78% | +2.42% | +13.43% | +72.74% |
How will the infusion of this capital influence Axis Bank's lending growth and risk appetite in the upcoming fiscal year?
What impact will the increased Additional Tier 1 capital have on the bank's overall credit ratings from major agencies?
Will this successful issuance encourage Axis Bank to pursue further offshore capital raising activities in the near future?
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