Axis Bank Ltd. raised US$500 million through the issuance of five-year U.S. dollar-denominated bonds under its global medium-term note program.

The bank said Aug. 2 that the senior bonds were priced at 130 basis points over the five-year U.S. Treasury note, at a yield of 3.113%. The bonds bear a fixed rate of 3.00% per year.

The bonds were issued through the bank's Dubai International Financial Center branch.