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ICICI Bank raises 40B rupees via debentures

ICICI Bank Ltd. raised 40 billion Indian rupees via an issuance of Basel III-compliant Additional Tier 1 bonds in the nature of debentures on a private placement basis.

The debentures were priced at par with a coupon of 9.15% per year.

The bonds will be listed on the wholesale debt market segment of the BSE Ltd. and/or the National Stock Exchange of India Ltd.

As of March 20, US$1 was equivalent to 65.26 Indian rupees.