You are here: Home » Finance » News » Banks
Business Standard

ICICI Bank raises Rs 475 cr via bonds

The bonds will carry a coupon rate of 8.55% per annum

Press Trust of India  |  New Delhi 

ICICI Bank raises Rs 475 crore via bonds

The country's second-largest lender today said it has allotted Basel III compliant worth Rs 475 crore on private placement basis.

"The committee of the executive directors of the approved allotment of 4,750 Basel III compliant unsecured subordinated perpetual additional tier I aggregating Rs 4.75 billion on private placement basis,' the bank said in a regulatory filing.

The allotment was done today, it added.

The will carry a coupon rate of 8.55 per cent per annum.

said the bonds will be listed on wholesale debt market segment of and The bonds are rated AA+ by CARE and

Indian banking system has been implementing Basel III standards in phases since April 1, 2013. The are expected to fully implement these norms by March 2019.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of

Stock of the private sector lender today closed 0.88 per cent down at Rs 276 on

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, October 04 2017. 23:07 IST