Axis Bank raises $500-M offshore loan from MUFG

Mumbai-based, publicly-listed Axis Bank has raised USD 500-M through an offshore loan facility from Mitsubishi UFJ Financial Group. The transaction was structured as a three-year facility. MUFG served as the sole mandated lead arranger and bookrunner for the deal, which is currently being syndicated to a broader group of lenders. The facility is priced based on the secured overnight financing rate (SOFR) plus an 85-basis point interest margin.Axis Bank plans to utilize the capital to support its lending operations and general business requirements.