ICICI Bank raises  ₹5,000 Cr via AAA rated bonds

ICICI Bank raises ₹5,000 Cr via AAA rated bonds


On Monday, the private sector lender ICICI Bank announced that it has raised 5,000 crore through long term bonds at a coupon of 7.63% p.a. payable annually and were issued at par.

ICICI Bank said today in a stock exchange filing that “The Board of Directors of the Bank, 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 would be listed in the relevant segment of the NSE, and 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, said the bank in a stock exchange filing.

The shares of ICICI Bank closed today at 931.45 apiece, up by 0.17% from the previous close of 929.90. The stock recorded a total volume of 8,493,863 shares compared to the 20-Day average volume of 12,724,297 shares. On a YTD basis, the stock has gained 21.81% so far in 2022.


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