Axis Bank has announced the early redemption of its entire outstanding principal amount of US$600,000,000 4.10 per cent. Additional Tier 1 Notes. The redemption will occur on September 8, 2026, at the applicable redemption price of 100% (par), plus accrued interest. This action is in accordance with the terms of the Notes and has received necessary regulatory approvals from the Reserve Bank of India.
Axis Bank Exercises Call Option on Tier 1 Notes
Axis Bank has formally decided to exercise its call option to redeem the entirety of its outstanding US$600,000,000 4.10 per cent. Additional Tier 1 Notes, originally issued on September 8, 2021. This decision aligns with the terms and conditions outlined in the Notes’ offering circular dated August 19, 2021.
Redemption Details
The full redemption of these Notes will take place on the first call date, which is September 8, 2026. The redemption price will be 100% of the aggregate principal amount, in addition to any accrued and unpaid interest up to, but not including, the redemption date. Axis Bank has instructed The Bank of New York Mellon, London Branch, the trustee for the Notes, to issue a formal notice of redemption to all eligible Noteholders.
Regulatory Approvals and Confirmation
The bank confirmed that it has obtained the requisite prior approval from the Reserve Bank of India (Department of Banking Regulation) on July 31, 2026. Furthermore, Axis Bank has demonstrated to the satisfaction of the RBI that its capital position will remain well above minimum requirements following this redemption. Interest on the Notes will cease to accrue from the redemption date onwards.
Key Note Information
The redeemed securities are identified as Additional Tier 1 Notes with a principal amount of US$600,000,000, bearing a 4.10 per cent. interest rate. The ISINs associated with these Notes are USY1009XAA73 and US05464XAA37. The common code for the former is 238538416 (Regulation S), and for the latter, it is 238460808 (Rule 144A).
Source: BSE
