NSE International Exchange (NSE IFSC), a wholly-owned subsidiary of the National Stock Exchange of India Ltd (NSE) has listed Axis Bank’s sustainable Additional Tier 1 (AT1) Notes on its Debt Securities Market platform. Axis Bank has raised USD 600 million under a sustainable financing framework.
Since the launch of NSE IFSC Debt Securities Market (DSM), the platform has listed total aggregate Medium-Term Note (MTNs) worth over USD 22.25 billion (including ~USD 750 million Green Bond) and listing of bonds more than USD 16.20 billion (including ~USD 750 million Green Bond).
NSE IFSC LTD launched Debt Securities Market for listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, etc. on March 16, 2018. Debt Securities Market platform provides an efficient international listing process to issuers with minimum turnaround time and investment opportunities for investors from across the world.
Injeti Srinivas, Chairman, IFSCA said: “The USD 600 MN AT-1 Bond issuance under ESG category marks the beginning of GIFT IFSC emerging as a preferred destination for raising of capital for sustainability.”
Tapan Ray, MD & Group CEO, Gift City said: “GIFT IFSC is now emerging as a destination for raising capital and debt by Indian issuers. Axis Bank’s Sustainable Bond issuance through GIFT City is a welcome step. The ecosystem, ease of doing business, and cost-efficiency make GIFT IFSC a preferred platform for raising and listing of debt. Our aim is to make GIFT City a green & sustainable finance hub; we congratulate Axis Bank and IFSC exchanges for their commitment towards achieving this goal.”
Amitabh Chaudhry, MD & CEO, Axis Bank said: “This is a landmark issuance, and it shows Axis Bank’s commitment to the Government’s vision for developing GIFT City as an International Financial Centre of repute. We hope that it will encourage other market players to also look at GIFT City as a venue of choice for issuance and listing of their debt and equity products.”
Vikram Limaye, MD & CEO, NSE said: “We congratulate and welcome Axis Bank on the listing of their AT1 ESG bonds on our platform. We are committed to building a vibrant primary market ecosystem along with an active and robust secondary market for capital market products at GIFT IFSC. Our platform facilitates the issuance of green and sustainable bonds to offer local and international issuers an additional source of green financing to improve investor diversification, as well as enable issuers to focus on enhancing their ESG initiatives. We are thankful to regulatory authority IFSCA for providing a competitive regime and facilitating the development of GIFT City as an international financial centre.”
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