Axis Bank secures $500 million offshore loan from MUFG
after close1 source ↓written by the desknot a recommendation
- offshore loan agreement
- $500 million
- at SOFR plus
- 85 basis points
- Axis Bank grew
- 19%
- in the last
- ₹12.3 trillion
- deposit growth
- 14%
Axis Bank Ltd has signed a $500 million offshore loan agreement with Mitsubishi UFJ Financial Group. The three-year facility will be priced at SOFR plus 85 basis points. Funds will be used for lending and general business purposes, highlighting the bank's strategy amid rising credit demand. 📈
This move comes as loans at Axis Bank grew 19% to ₹12.3 trillion in the last fiscal year, outpacing deposit growth of 14%.
Not investment advice. For informational purposes only.