Kotak Mahindra Bank has successfully allotted US$650,000,000 in 5.478% senior notes due 2031. This issuance is part of the Bank’s US$1 billion Euro medium-term note programme. The proceeds will enhance funding diversification and support general corporate purposes. The notes are rated BBB by S&P Global Ratings and will be listed on India International Exchange (IFSC) Limited and NSE IFSC Limited.
Kotak Mahindra Bank Secures Significant Funding Through Senior Notes Issuance
Kotak Mahindra Bank Limited has announced the allotment of US$650,000,000 aggregate principal amount of its 5.478% senior notes due 2031. This issuance is a component of the Bank’s established US$1 billion Euro medium-term note programme, conducted under Regulation S of the U.S. Securities Act 1933. The official announcement was made on August 24, 2026.
Purpose and Financial Details
The net proceeds generated from these notes are earmarked for diversifying the Bank’s funding sources and addressing its general corporate purposes. These senior notes carry a coupon rate of 5.478% per annum and are scheduled for redemption at par on August 24, 2031. The coupon interest will be paid semi-annually, on February 24 and August 24 each year, up to and including the maturity date.
Listing and Ratings
The newly issued notes have been rated as BBB by S&P Global Ratings. They will be listed and available for trading on the India International Exchange (IFSC) Limited and NSE IFSC Limited. The instrument is classified as unsecured, with no specific charge or security created over the Bank’s assets. The ISIN for these notes is XS3480765588, and the Common Code is 348076558.
Source: BSE
