Left Menu
Development News Edition

ICICI Bank raises Rs 945 cr by issuing Basel III compliant bonds

PTI | New Delhi | Updated: 17-02-2020 15:31 IST | Created: 17-02-2020 15:31 IST
ICICI Bank raises Rs 945 cr by issuing Basel III compliant bonds

ICICI Bank on Monday said it has raised Rs 945 crore by issuing Basel III compliant bonds on private placement basis. According to a BSE filing, the bank has allotted 9,450 Basel III compliant unsecured subordinated tier 2 bonds in the nature of debentures aggregating to Rs 945 crore on private placement basis.

The bonds were allotted on February 17, 2020. The bonds are redeemable at the end of 10 years and there is an issuer call option on or after the 5th anniversary from the date of allotment, subject to RBI approval, it added.

"The bonds are eligible for inclusion as tier 2 capital of the bank...and have the rights, privileges and features customary for such tier 2 issuances," it said. The bonds carry a coupon of 7.10 per cent per annum payable annually and were issued at par.

ICICI Bank said the bonds are rated 'CARE AAA; Stable' by Credit Analysis & Research and 'ICRA AAA (hyb)'; Stable" by ICRA. ICICI Bank stock was trading at Rs 541.10 on the BSE, down 0.87 per cent from the previous close.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

All party meeting - Blocking dialogue not culture of Bengal, Mamata needs to speak up

If that happens, history will record it as the dark age of Bengal....

Diya Jalao for COVID 19: How Modi put Power Grids and power warriors at risk?

While Prime Minister Narendra Modis staunch supporters are busy in search of hidden science behind the sudden announcement of 9minutes9pm campaign but his ignorance of the actual science has put the nation in another danger. The scientists ...

Videos

Latest News

Combating COVID-19: IIT-Roorkee professor develops surveillance system to track overcrowding

To augment government efforts for surveillance of COVID suspects, Prof Kamal Jain of Department of Civil Engineering, IIT Roorkee, has developed a tracking mobile application. The tracking system allows for state-of-the-art surveillance du...

Govt to distribute food supplies in Andaman and Nicobar Islands for 3 months

Government has decided to distribute monthly 5 kg grains and 1 kg pulses, per person, for the next three months in the Union Territory of Andaman and Nicobar Islands, according to Chetan Sanghi, Chief Secretary, Andaman and Nicobar Islands....

Over 14,000 quintals of forest produce collected in Chhattisgarh

Over 14,000 quintals of minor forest produces have been collected by the forest dwellers and villagers in Chhattisgarh during the ongoing season so far. Forest Minister Mohammad Akbar said that during the ongoing season, the target is to co...

Another doctor, 11 nurses of DSCI tested positive for COVID-19

Another doctor and 11 nurses of Delhi State Cancer Institute DSCI have tested positive for coronavirus, taking the total positive health staff of DSCI for COVID-19 to 2 and 16 respectively on Monday. One more doctor and 11 nursing officers ...

Give Feedback