Linklaters has advised the arranger, dealer and the lead manager on Kotak Mahindra Bank Limited’s debut international dollar bond issuance.
Kotak Mahindra Bank, acting through its GIFT-City (International Financial Services Centre) Branch, issued U.S.$650m 5.478 per cent Senior Notes due 2031 under its U.S.$1bn Medium Term Note Programme. The Notes are dual listed on the India International Exchange (INX) and NSE IFSC Limited (NSE IX).
Issued by the fourth largest private sector bank in India, the issuance saw strong demand from Asian and European investors.
The Linklaters team was led by Head of India practice, Amit Singh, partner Xunming Lim and supported by Calvin Cheng, Reeve Chia, Ashley Loh and Cheryl Kwok.
Partner and Head of the India Practice, Amit Singh commented,
“Kotak Mahindra Bank’s successful debut international dollar bond issuance is a significant milestone for the bank and reflects the strong demand we are seeing from global investors for high-quality Indian financial institution credit. The strong oversubscription and resulting pricing outcome underscore both investor confidence in Kotak Mahindra Bank and the continued depth of international capital available to leading Indian issuers. We are pleased to have supported them on this landmark transaction.”
