You are here: Home » PTI Stories » National » News
Business Standard

ICICI Bank raises Rs 3,425 cr via Basel III complaint bonds

Press Trust of India  |  New Delhi 

The country's largest private sector lender has raised Rs 3,425 crore by issuing Basel III compliant bonds on private placement basis.

The Committee of Executive Directors of the at its meeting held today approved allotment of 34,250 Basel III compliant unsecured, subordinated, perpetual additional tier-I bonds aggregating Rs 34.25 billion on private placement, the said in a regulatory filing.

The bonds carry a coupon rate of 9.20 per cent per annum payable annually.

Bonds are rated stable with 'AA+' rating by CARE and

is implementing globally set Basel III capital regulations for banks to strengthen their capital planning to mitigate potential stresses that may arise due to asset quality deterioration.

Banks are implementing these standards in phases since April 1, 2013. They are expected to fully comply with these norms by March 2019.

Stock of closed 0.25 per cent down at Rs 284.45 on

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

First Published: Thu, March 16 2017. 20:58 IST