People stand in line to exchange Indian five hundred and one thousand rupee banknotes at an ICICI Bank Ltd. branch in New Delhi, India, on Thursday, Nov. 10, 2016. Photographer: Anindito Mukherjee/Bloomberg
Private sector lender ICICI Bank has raised more than ₹2,827 crore by issuing bonds on a private placement basis. This comes after the lender’s board of directors approved fundraising through the issuance of debt securities in April.
On April 24, the bank’s board of directors had approved the fund-raising through the issuance of debt securities. Pursuant to the same, the bank has allotted 28,274 senior unsecured redeemable long-term bonds in the nature of debentures aggregating to ₹2,827.40 crore on a private placement basis,” said the lender in regulatory filings at stock exchanges.
The bonds carry a coupon rate of 6.45 per cent per annum payable annually and were issued at par. There are no special rights or privileges attached to them.
The allotment date is June 15 and the redemption date is June 15, 2028. The bonds will be listed in relevant segment of the National Stock Exchange (NSE) of India.
The bonds are rated ‘CARE AAA stable’ and ‘ICRA AAA stable.
This article was first published on livemint.com.
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