The notes will have a five-year tenure, with the date of allotment set for August 24, 2026 and maturity on August 24, 2031.
They will carry a fixed coupon of 5.478% per annum, with interest payments scheduled for February 24 and August 24 each year through the maturity date.
The notes will be unsecured and are expected to be rated BBB by S&P Global Ratings, as per the filing. The principal will be redeemed at par on August 24, 2031.
Kotak Mahindra Bank said the net proceeds will be used to diversify its funding sources and meet general corporate purposes.
The notes will be listed on India International Exchange IFSC Limited and NSE IFSC Limited. They will be issued in denominations of $200,000 and integral multiples of $1,000 thereafter, as per exchange filing.
The bank said the notes are not being offered or sold to any person or to the public in India in a manner that would constitute an offer or solicitation in violation of applicable Indian laws.
It added that the offering circular has not been registered as an offer document with SEBI or any Indian stock exchange, except where disclosures or filings are required under applicable Indian laws.
Kotak Mahindra Bank shares closed at ₹387.75 on August 18, down 1.26% or ₹4.95 from the previous close, based on the market data provided.
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