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ICICI Bank raises 4.75B rupees via bonds

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ICICI Bank raises 4.75B rupees via bonds

ICICI Bank Ltd. raised 4.75 billion Indian rupees through an allotment of Basel III-compliant Additional Tier 1 bonds on a private placement basis.

The unsecured subordinated perpetual bonds bear a coupon of 8.55% per year and were allotted Oct. 4, according to a Form 6-K filed the same day.

The bonds will be listed on the wholesale debt market segment of the Bombay Stock Exchange or the National Stock Exchange of India, or both.

As of Oct. 4, US$1 was equivalent to 65.03 Indian rupees.