ICICI Bank Raises ₹ 5,000 Crore By Issuing Debt Securities

ICICI Bank Raises ₹ 5,000 Crore By Issuing Debt Securities

ICICI,Bank,Raises,₹,5,000,Crore,By,Issuing,Debt,Securities
ICICI Bank Raises Rs 5,000 Crore By Issuing Debt Securities
Shares of ICICI Bank settled 1.77 per cent lower at ₹ 728.2

0 apiece on the BSE.

ICICI Bank has raised ₹ 5,000 crore debt capital by issuing bonds on a private placement basis. The board of directors of the country’s leading private lender bank had approved to raise funds by issuing debt securities in April this year.
“Pursuant to the same, the bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to ₹ 5,000 crore on private placement basis,” according to a regulatory filing by ICICI Bank to the stock exchanges today.

The bond allotment date is December 17, 2021, it said. The private sector lender said that the bonds are redeemable at the end of 10 years – redemption date being December 17, 2031. “There are no special rights/privileges attached to the bonds.

The bonds carry a coupon of 6.96 per cent per annum payable annually and were issued at par,” said ICICI Bank. The bonds will be listed on the National Stock Exchange (NSE). They have been rated AAA stable by Care Ratings and ICRA.The bond allotment date is December 17, 2021, it said. The private sector lender said that the bonds are redeemable at the end of 10 years – redemption date being December 17, 2031. “There are no special rights/privileges attached to the bonds.

The bonds carry a coupon of 6.96 per cent per annum payable annually and were issued at par,” said ICICI Bank. The bonds will be listed on the National Stock Exchange (NSE). They have been rated AAA stable by Care Ratings and ICRA.\Recently, the bank announced that it has on-boarded 70 leading companies on ‘CorpConnect’ – which is the bank’s digital platform that it launched last year to enable corporates to undertake instant payments and collections to/from their channel partners.