Axis Bank prices $350 million benchmark deal

The Indian bank prices $350 million worth of senior unsecured notes. Like other deals that have come to market this month, the bonds will mature in 5.5 years.

India-based Axis Bank has sold $350 million worth of Baa2BBB- rated senior unsecured notes. The Reg-S deal was formally issued through the bank's branch at the Dubai International Financial Centre.

The deal, which was priced early Friday morning Hong Kong time, has a 5.5-year tenor and a maturity date of September 30, 2015. The bonds were issued as part of Axis Bank's 2 billion $2.7 billion medium-term note programme.

Initial price guidance was set at 280bp...

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