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India's ICICI Bank issues 11.40B rupees of additional Tier 1 bonds

ICICI Bank Ltd. issued 11.40 billion Indian rupees of Basel III-compliant perpetual bonds on a private placement basis.

The unsecured subordinated bonds carry a coupon of 9.90% per year, according to a Form 6-K filed Dec. 28. The bonds will qualify as Additional Tier 1 capital.

The bonds were issued Dec. 28 and will be listed on the wholesale debt market segment of the BSE or the National Stock Exchange of India, or both.

As of Dec. 28, US$1 was equivalent to 69.96 Indian rupees.