India's Axis Bank planning ringgit bonds - source

MUMBAI, May 12 (Reuters) - India's Axis Bank (AXBK.BO: Quote, Profile, Research, Stock Buzz) is planning a 500 million Malaysian ringgit ($156 million) bond issue by early June and has appointed bankers to manage the sale, a bank source said on Monday.

The bank has appointed Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) (2888.HK: Quote, Profile, Research, Stock Buzz) and Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz) as arrangers to the issue, said the official, who asked not to be identified. "We will do it by the end of this month or in early June. It's subject to some documentation being completed," he said. ($1=3.21 Malaysian ringgit) (Reporting by Anurag Joshi; Editing by John Mair)