ICICI Bank raises Rs. 5000 crores through bonds

The Board of Directors of ICICI Bank Limited, at its meeting held on April 23, 2022, had approved fund raising through issuance of debt securities. Pursuant to the same, the Bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to ₹ 5,000.00 crore on private placement basis, the date of allotment being December 12, 2022. The bonds are redeemable at the end of 7 years (redemption date being December 12, 2029). 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 bonds would be listed in the relevant segment of the NSE.

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

Shares of ICICI Bank Limited was last trading in BSE at Rs. 929.30 as compared to the previous close of Rs. 930.65. The total number of shares traded during the day was 328904 in over 11177 trades.

The stock hit an intraday high of Rs. 933.80 and intraday low of 922.30. The net turnover during the day was Rs. 305393390.00.

Source : Equity Bulls

Keywords

ICICIBank INE090A01021 IBN FundRaising Bonds PrivatePlacement