ICICI Bank to raise US$ 500 million through International Bond offering

ICICI Bank (NYSE:IBN), acting through its Hong Kong branch, priced 5.5 year fixed rate notes of US$ 500 million. The notes carry a coupon of 5%, which translates to a spread of 275 basis points over equivalent Libor. The notes were sold under the Rule 144A/Regulation S format.

The stock was trading at Rs.868.70, up by Rs.6.55 or 0.76%. The stock hit an intraday high of Rs.871.90 and low of Rs.865.

The total traded quantity was 84286 compared to 2 week average of 512187.

Source : Equity Bulls

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