Axis Bank Ltd. said it will redeem its $600 million Additional Tier 1 (AT1) notes on September 8, 2026, exercising a call option to repurchase the bonds at 100% of principal plus accrued and unpaid interest.
The 4.10% perpetual securities, issued on September 8, 2021, will see interest cease accruing after the redemption date, the bank said in a regulatory filing. The redemption follows a notification to The Bank of New York Mellon’s London branch, acting as trustee, with the bank confirming its capital position will remain well above minimum requirements post-redemption.
The notes, listed under ISINs USY1009XAA73 and US05464XAA37 with CUSIPs Y1009XAA7 and 05464XAA3, were issued with RBI approval granted on July 31, 2026. The record date for redemption is set for the close of business on the business day prior to September 8, 2026.
