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Firm Matters

Kotak Mahindra Bank Limited – Debut bond issue under its USD 1 billion Medium Term Note Programme

  • 25-Aug-2026

Khaitan & Co advised Kotak Mahindra Bank Ltd on the establishment of its inaugural USD 1 billion Medium Term Note Programme and the debut issuance of USD 650 million senior bonds, rated ‘BBB’ by S&P Global Ratings. The bonds were issued under Regulation S of the U.S. Securities Act, the bonds are listed on the India International Exchange (IFSC) Ltd and NSE IFSC Ltd at GIFT City.

The Hongkong and Shanghai Banking Corporation Ltd acted as the sole arranger and dealer and other dealers included the Barclays Bank PLC, Citigroup Global Markets Ltd, JP Morgan Securities PLC, Crédit Agricole Corporate and Investment Bank (Singapore Branch), Mashreqbank PSC, Merrill Lynch (Singapore) Pte. Ltd., and Standard Chartered Bank.

Deal Team

Kotak Mahindra

The core team comprised Manisha Shroff, Rajshekhar Upadhyaya, Aparna Arya, Khushboo Damakia, and Nandini Arya

The deal was assisted by:

Direct Tax: Sneh Shah (Partner) and Pal Jain (Associate)