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ICICI Prudential Life Insurance Company approves NCD issue aggregating Rs 1200 cr

Capital Market 

The strategy committee of ICICI Prudential Life Insurance Company in its meeting held on 29 October 2020 approved the terms of issuing debt instruments in the nature of 12,000 rated, listed, subordinated, redeemable, taxable, unsecured, fully paid-up, non-cumulative, non-convertible debentures (Debentures), each having a face value of Rs.10,00,000/- (Rupees Ten Lakh only), aggregating to Rs 1200 crore, being the issue size, for cash, at par, in dematerialised form, on private placement basis (Issue), subject to regulatory and any other approval(s), as may be required.

Further, the details in relation to the Issue including the coupon rate shall be intimated in due course.

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

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First Published: Thu, October 29 2020. 20:05 IST