ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales

ICICI likely to issue long-term bonds, Axis mulls infra bond sale

Private sector lender ICICI Bank is likely to raise up to Rs 5,000 crore through the issuance of long-term bonds on Thursday, sources told Business Standard.

The bonds, which are likely to have a maturity of seven years, include a base size of Rs 1,000 crore and a greenshoe option of Rs 5,000 crore, the sources said. The securities are senior unsecured redeemable long-term bonds in the nature of debentures.

“It is likely that ICICI Bank would set a fixed coupon of 7.63 per cent for the bonds,” a source said. On Tuesday, yield on the 10-year benchmark government bond