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ICICI Bank raises ₹5,000cr via bonds
December 13, 2022
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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