ICICI Bank raises Rs 5,000 cr via bonds

The private lender on Monday announced that it has raised Rs 5,000 crore through long term bonds at a coupon of 7.63% p.a. payable annually.

In an exchange filing, ICICI Bank said that it has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis.

The bonds are redeemable at the end of 7 years (redemption date being 12 December 2029). There are no special rights/ privileges attached to the bonds, it said.

The bonds carry a coupon of 7.63% p.a. payable annually and were issued at par. The bonds would be listed in the relevant segment of the NSE, the bank stated.

The bonds are rated CARE AAA; Stable by CARE Ratings, CRISIL AAA/Stable by CRISIL Ratings and [ICRA]AAA (Stable) by ICRA, said the bank.

ICICI Bank is a leading private sector bank in India. The bank had a network of 5,614 branches and 13,254 ATMs at 30 September 2022.

The private lender's standalone net profit surged 37.14% to Rs 7,557.84 crore on 19.43% rise in total income to Rs 31,087.91 crore in Q2 FY23 over Q2 FY22.

Shares of ICICI Bank were up 0.10% to Rs 930.20 on the BSE.

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