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ICICI Bank to raise $150 mn from offshore market this fiscal

Press Trust of India  |  New Delhi 

The country's second largest lender today said it is planning to raise USD 150 million in offshore borrowing this fiscal.

The said the committee of executive directors in a meeting held yesterday approved the offshore borrowing plan for 2017-18.

"The bank, under its GMTN (global medium term note) programme, acting through its DIFC (Dubai) branch, tapped its existing 3.25 per cent fixed rate notes maturing September 2022 for an amount of USD 150 million on private placement basis," said in a regulatory filing.

With this, Bank's outstanding amount under this this ISIN (International Securities Identification Number) would be USD 650 million, it added.

The lender said the bonds will be listed on Stock Exchange.

of closed 0.72 per cent down at Rs 267.30 on today.

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

First Published: Wed, October 11 2017. 22:13 IST