London Stock Exchange Welcomes Axis Bank
London Stock Exchange welcomes Axis Bank, India’s third largest private sector bank for successfully listing Asia’s first certified USD 500 million Green Bond issuance that was oversubscribed two times the actual set price.
The Notes are issued by Axis Bank’s DIFC branch, Dubai and are rated Baa3 by Moody's, BBB- by S&P and BBB- by Fitch. The bank would deploy the proceeds to finance / refinance high quality green assets for overall infrastructure development in India.
Shikha Sharma, Managing Director & CEO, Axis Bank, said “We, at Axis Bank, have always demonstrated our commitment to fostering a green and sustainable environment through our various initiatives. In addition to putting in place 'sustainable lending' practices on the lending side, Axis has also taken measures at its corporate office and branches to promote a green footprint. To further progress on this journey, Axis Bank launched and successfully completed the first certified Green Bond issue, which we are pleased to list on the London Stock Exchange today. The encouraging response to this issue is reflective of the keenness of global investors to promote and support a sustainable environment and also acknowledge Axis's credibility in this space.”
“The Axis Bank issue represents several firsts: the first ever USD green bond by an Indian private sector company and the first ever 144A green bond from India, with 21% of the investor base being green investors. More importantly, it attracted the lowest coupon ever for a 5-year USD bond by any Indian private sector issuer. As the No. 1 green book-runner globally, Bank of America Merrill Lynch remains at the forefront of environmental financing,” BofAML India country head (Ms) Kaku Nakhate said.
The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 2,904 domestic branches (including extension counters) and 12,743 ATMs spread across the country as on 31st March 2016. The overseas operations of the Bank are spread over nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; representative offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses. The total assets under overseas branches stand at USD 8.06 billion as on 31st March 2016.