ICICI Bank raises Rs 2,827 cr by issuing bonds

ICICI Bank raises Rs 2,827 cr by issuing bonds

NEW DELHI: on Tuesday said it has raised over Rs 2,827 crore by issuing bonds on a private placement basis.

Its board of the directors in April this year had approved the fundraising 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 Rs 2,827.40 crore on a private placement basis,” ICICI Bank said in a regulatory filing.

The bank said the allotment date is June 15, 2021. The redemption date of the bonds is June 15, 2028.

“There are no special rights/privileges attached to the bonds. The bonds carry a coupon of 6.45 per cent per annum payable annually and were issued at par,” it added.

The lender said it will list the bonds in the relevant segment.

The bonds are rated ‘CARE AAA stable’ by Credit Analysis & Research and ‘ICRA AAA stable’ by .

ICICI Bank’s shares on Tuesday closed 1.57 per cent up at Rs 645.05 apiece on the BSE.

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