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Axis Bank to redeem US$60M worth of notes

Axis Bank Ltd. plans to redeem its Tier 2 subordinated notes amounting to US$60 million.

The bank said May 29 it would redeem the notes, which were priced with a coupon of 7.125% per annum, on June 28. The redemption price is 100% of the aggregate outstanding amount with any interest accrued.