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ICICI Bank raises ₹5,000cr via bonds

December 13, 2022

ICICI Bank raises ₹5,000cr via bonds
The private lender on Monday announced that it had raised ₹5,000 crore through long-term bonds at a coupon of 7.63% p.a. payable annually. 

In an exchange filing, ICICI Bank said that it has allotted 50,000 senior unsecured redeemable long-term bonds in the nature of debentures aggregating to ₹5,000 crore on private placement basis. 

The bonds are redeemable at the end of 7 years (redemption date being 12 December 2029). It said there are no special rights/ privileges attached to the bonds. 

The bonds carry a coupon of 7.63% p.a. payable annually and were issued at par. The bank stated that the bonds would be listed in the NSE’s relevant segment. 

The bonds are rated CARE AAA; Stable by CARE Ratings, CRISIL AAA/Stable by CRISIL Ratings and [ICRA]AAA (Stable) by ICRA, said the bank. 

ICICI Bank is a leading private-sector bank in India. The bank had a network of 5,614 branches and 13,254 ATMs at 30 September 2022. 

The private lender’s standalone net profit surged 37.14% to ₹7,557.84 crore on 19.43% rise in total income to ₹31,087.91 crore in Q2 FY23 over Q2 FY22. 

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