India’s Axis Bank board OKs up to Rs. 350 billion of debt securities

By Sarah Lizee

Olympia, Wash., April 28 – Axis Bank Ltd. notified the Bombay Stock Exchange that its board of directors met on Tuesday and approved a proposal to raise funds by issuing up to Rs. 350 billion of debt securities.

The securities may include long-term bonds, nonconvertible debentures, perpetual debt instruments and tier 2 capital bonds or other debt securities.

The securities may be rupee-denominated or issued in other currencies.

The bank is based in Mumbai.

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