Axis Bank Ltd. said it will exercise an early redemption option for its $600 million Additional Tier 1 (AT1) capital notes, with the call scheduled for September 8, 2026.
The Mumbai-based bank will redeem the bonds at 100% of their principal amount plus accrued and unpaid interest. Interest payments will halt once the redemption is completed. The notes, issued on September 8, 2021, carry a fixed coupon of 4.10%.
The redemption requires prior approval from the Reserve Bank of India’s Department of Banking Regulation, which Axis Bank obtained on July 31, 2026. The lender also confirmed to the RBI that its capital position will remain above minimum regulatory requirements following the redemption.
The Bank of New York Mellon’s London branch, acting as trustee, was notified on August 3 to issue a redemption notice to eligible bondholders. The record date for the redemption is set at the close of business on the business day prior to September 8, 2026.
The notes are identified by ISINs USY1009XAA73 and US05464XAA37 and CUSIPs Y1009XAA7 and 05464XAA3.
