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Axis Bank raises US$50M in debt issue

Axis Bank Ltd. raised US$50 million through the issuance of senior unsecured notes with a coupon of 3.25%.

The notes were issued from the bank's Dubai International Financial Centre branch. The securities are due May 21, 2020.

The notes will be consolidated and form a single series with the US$250 million of notes issued in March 2015 and the US$500 million of notes issued in November 2014. The latest issuance brings the total outstanding issue size to US$800 million.