Axis Bank Limited (AXB.IL)

India's Axis Bank likely to issue infra bonds in September, sources say

India's Axis Bank is set to join several other lenders in raising funds through infrastructure bonds and may announce the issue in September, three sources, including two merchant bankers, said. "Axis Bank is planning and should come up with an infrastructure bond issue soon," an official said, requesting anonymity as the discussions are still private. Axis Bank's infrastructure notes are rated AAA by Crisil and ICRA and had last raised 38.51 billion rupees ($459.07 million) in March through 10-year infrastructure bonds at a coupon of 7.64%.