ICICI Bank raises Rs 5,000 crore through 10-year bonds

ICICI Bank has raised Rs 5,000 crore through 10-year bonds at a coupon (interest rate) of 6.96 per cent to fund regular business operations. The bonds would be listed in the relevant segment of the NSE. 

The bonds are rated “AAA” with stable outlook, the bank informed the stock exchange. The money was raised through private placement of bonds. The coupon is about 45-basis points above the yield on 10-year Government of India bonds.

Compared to private sector entities, public sector-owned firms are able to get 5-10 basis points finer rates, bond dealers said.

Meanwhile, Union Bank raised Rs 1,500 crore in capital