ICICI Bank raises ₹8,000 crore via bonds issuance at 7.12% p.a coupon rate
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ICICI Bank has raised a whopping ₹8,000 crore by issuing long term debentures on Friday. The bonds were issued at par and have a coupon rate of 7.12% per annum payable on an annual basis.
In a statement to exchanges today, the bank said, “has allotted 80,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to ₹8,000 crore on private placement basis, the date of allotment being March 11, 2022.”
The bonds will be redeemable at the end of 10 years, i.e. March 11, 2032.
Furthermore, there are no special rights/ privileges attached to the bonds. Meanwhile, the bonds will be listed in the relevant segment of the NSE.
CARE, ICRA and Crisil have assigned a ‘AAA’ rating on the bonds with a stable outlook.
On April 24 last year, ICICI Bank board of directors approved fundraising through issuance of debt securities.
On BSE, ICICI Bank edged higher and closed at ₹678.05 apiece up by ₹1.5 or 0.22% today.
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