ICICI BankLtd. will redeem its US$340.0 million subordinated debt securitiesOct. 31.
The bank issued the perpetual noncumulative notes in 2006through its Bahrain branch. The notes carried an interest rate of 7.25%.
The redemption price for all outstanding notes on theredemption date will be US$1,036.25 for every US$1,000 of securities.
The bank said that it has obtained the necessary regulatoryapprovals for redeeming the notes.