Clifford Chance

Clifford Chance advises managers on Axis Bank's issuance of US$500 million in notes

Leading international law firm Clifford Chance has advised Barclays, Citigroup, HSBC, J.P. Morgan and Standard Chartered on the issuance of Axis Bank Limited's US$500 million 5.125% Regulation S/Rule 144A notes due 2017, as a drawdown under its €2 billion medium term note programme.

Partners Johannes Juette and Matt Fairclough led the deal and were supported by senior associate Tom Bidwell and associate Humberto N. Macias.

The firm worked on a similar drawdown for Axis Bank that closed in November 2010. It was also an issuance of US$500 million in notes.

Axis Bank was the first of the new private banks to begin operations after the Government of India began allowing the establishment of private banks in 1994. The bank operates both retail and corporate banking.