ICICI Bank raises over Rs 1,100 crore on private placement basis

Private sector lender ICICI Bank Friday said it has raised Rs 1,140 crore by issuing Basel III-compliant bonds on private placement basis. "The Bank has allotted 11,400 Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in the nature of debentures aggregating INR 11.40 billion on private placement basis," ICICI Bank said in a regulatory filing. The date of allotment is December 28, 2018, it added.

The bonds, carrying a coupon of 9.90 per cent per annum, are rated AA+ by rating agencies CARE, ICRA and Crisil. The stock of ICICI Bank closed 1.59 per cent up at Rs 361.05 on BSE.