Axis Bank Ltd. said it will exercise its call option to redeem $600 million of Additional Tier 1 (AT1) capital notes at par on Sept. 8, 2026, according to a notice filed with the Reserve Bank of India.
The notes, originally issued in September 2021 with a 4.10% annual coupon, will be redeemed at 100% of principal plus accrued but unpaid interest. Interest payments will stop after the redemption date, the bank said.
The redemption follows prior approval from the RBI’s Department of Banking Regulation, granted on July 31, 2026. Axis Bank confirmed to regulators that its capital position will remain well above minimum requirements after the transaction. The bank did not disclose any changes to its capital structure beyond the redemption.
The notes are governed by ISINs USY1009XAA73 and US05464XAA37, with corresponding CUSIPs Y1009XAA7 and 05464XAA3. The Bank of New York Mellon, London Branch, serves as trustee and will issue the redemption notice to eligible noteholders.
The call option allows Axis Bank to redeem the notes five years after issuance, aligning with standard AT1 instrument terms.
