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India's Axis Bank raises $315 mln via debentures

Fri Nov 7, 2008 6:35am EST

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MUMBAI, Nov 7 (Reuters) - India's Axis Bank (AXBK.BO) said on Friday it had raised 15 billion rupees ($315 million) of lower tier-II capital through a private placement of non-convertible debentures.

The 10-year debentures carry a coupon rate of 11.75 percent, the bank said in a statement.

($1=47.65 rupees)

(Reporting by Ami Shah; Editing by John Mair)



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