Axis Bank prices AT1 bonds at 4.1%, raises $600 mn

Axis Bank has fixed the price of its dollar-denominated additional tier-i bonds (AT1 bonds) at 4.1 per cent, 30 basis points lower than its initial guidance of 4.4 per cent, and has raised about $600 million through the issue. This is the second AT1 bond offering in the international market by an Indian bank within a fortnight. Recently, HDFC Bank raised $1 billion via AT1 bonds priced at 3.7 per cent.