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ICICI Bank Raises Rs 5,000 Cr Via Bonds To Fuel Business
The bank has allotted 50,000 senior unsecured redeemable long-term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis
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ICICI Bank on Monday said that it has raised Rs 5,000 crore long-term bonds to fuel business growth.
The bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis, the date of allotment being December 12, 2022.
The bonds are redeemable at the end of 7 years (redemption date being December 12, 2029). These bonds carry a coupon of 7.63 per cent p.a. payable annually and were issued at par.
ICICI Bank said that the bonds would be listed in the relevant segment of the NSE.
The bonds are rated “CARE AAA; Stable” by CARE Ratings Limited, “CRISIL AAA/Stable” by CRISIL Ratings Limited and “[ICRA]AAA (Stable)” by ICRA Limited.