Axis Bank raises $ 500 mn from bonds to fund global business

NEW DELHI: Private sector Axis Bank today said it has raised USD 500 million from bonds to fund global business. The bank has issued senior fixed rate bonds aggregating to USD 500 million under the Medium Term Note (MTN) Programme through its Dubai International Financial Centre (DIFC) branch, Axis Bank said in a regulatory filing. The notes will be listed at the Singapore Stock Exchange and London Stock Exchange, it said. The notes have been priced at 130 basis points over the 5-year US Treasury Note, at a yield of 3.113 per cent, it said. The notes will be denominated in US dollars, and will bear fixed interest of 3 per cent per annum, payable semi- annually in arrears, it said. 'Telecom sector received FDI worth over $9.79 bn from 2014-15' New Delhi: The country received foreign direct investment (FDI) of over USD 9.79 billion since 2014-15 in the telecom sector, Parliament was informed on Wednesday. As per the Department of Industrial Policy and Promotion (DIPP), FDI equity inflows in telecom sector between financial years 2014-15 and 2016-17 and April-May 2017 totalled USD 9,790.40 million, Minister of State for Electronics and IT P P Chaudhary said in a written reply to the Lok Sabha. The FDI inflow in 2014-15 was $2,894.94 million, $ 1,324.40 million (2015-16), $ 5,563.69 million (2016-17) and$ 7.36 million (April-May 2017), he added. The minister said the government is taking initiatives to promote manufacturing in the telecommunication sector in the country.