Axis Bank is likely to raise funds worth Rs 12,000 crore through tier-2 bonds, marking the second-largest capital-raise by a bank through debt so far in the current financial year, sources said.
The private sector lender’s bond sale, which has a base size of Rs 1,000 crore and a green-shoe option of Rs 11,000 crore, is for securities maturing in 10 years, sources said. The bond sale is likely to take place on Friday.
The largest bond by a bank so far this year was by HDFC Bank, which issued 10-year tier-2 debt worth Rs 15,000 crore at a coupon