Axis Bank raises $350 mn via MTN

Axis Bank has raised $350 million from the global financial market by issuing five-and-a-half-year bonds under its medium-term note programme.

Axis is the second Indian bank to raise money through overseas bond issues in recent past. Early this week, Bank of India had raised $500 million through this route. Meanwhile, Bank of Baroda has revived its MTN programme. It is now planning to issue five-year paper to raise $500-million in one-two weeks.