Loan & Debt24 Aug 2026, 08:03 pm
Kotak Mahindra Bank Allots US$ 650 Million Senior Notes Due 2031
AI Summary
Kotak Mahindra Bank Limited has announced the allotment of US$ 650,000,000 5.478% senior notes due 2031. This issuance is part of the bank's US$ 1 billion euro medium term note programme. The notes will be listed on India International Exchange (IFSC) Limited and NSE IFSC Limited. The proceeds will be used to diversify funding sources and for general corporate purposes. The notes are rated BBB by S&P Global Ratings and carry a fixed interest rate of 5.478% per annum, payable semi-annually. Redemption will be at par on August 24, 2031.
Key Highlights
- Kotak Mahindra Bank allotted US$ 650 million senior notes.
- Notes mature in 2031 with a 5.478% annual interest rate.
- Proceeds to diversify funding and meet general corporate needs.
- Notes will be listed on India International Exchange and NSE IFSC.
- S&P Global Ratings assigned a BBB rating to the notes.
Price Impact
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