Axis Bank, the private lender has raised USD 600 million via Sustainable Additional Tier 1 (AT1) notes in the overseas markets on September 1.
As per to the bank, Basel III-compliant AT1 notes, the dollar-denominated were priced at 4.10 percent that fell 30 basis points (bps) from the initial guidance.
The bank said in a statement on Thursday that the offering has witnessed an stupendous response from the investors, especially from the high-quality real money investors, with the order book being oversubscribed 3.8 times amidst of the Final Pricing Guidance announcement.
The bank said, "The order book was also very well diversified across geographies and high-quality funds, insurers and sovereign wealth funds making up 83 per cent of the allocations, reflected Axis Bank's strong credit fundamentals."
The bank further added that the 47 percent of the bonds that are equally important were allocated to sustainability- focused investors.