ICICI Banks looks to raise fund via bonds

Country's largest private sector lender ICICI Bank today said it is planning to raise fund by issuing long-term bonds.

The Committee of Executive Directors of the bank will meet on June 20 to consider the proposal, ICICI Bank said in a regulatory filing.

However, the bank did not mention the quantum of fund it wants to raise.

The bank said the committee will consider on "fund raising by way of issuance of senior unsecured long-term bonds in the nature of debentures in single/multiple tranches on private placement basis".

Shares of the bank today closed 0.70 per cent down at Rs 316.90 on the BSE.