ICICI Bank Raises Rs 5,000 of Crore Debt by Issuing Bonds on a Private Placement Basis

ICICI Bank raises Rs 5,000 Crore by issuing debt securities

Shares of ICICI Bank fell 1.77% at Rs 728.20 per unit on BSE.

ICICI Bank has raised debt capital of Rs 5,000 crore by issuing bonds on a private placement basis. The board of the country’s top private lender approved the funding by issuing debt securities in April this year.

“Accordingly, the bank has allocated 50,000 premium unsecured callable long-term bonds in the form of aggregated debit contracts to Rs 5,000 crore on a private placement basis,” according to a filing. legalization of ICICI Bank for stock exchanges today.

The bond allocation date is December 17, 2021, it said. The private sector lender said the bonds are callable at the end of 10 years – the redemption date is December 17, 2031. “There are no special rights/perks attached to the bonds.

The bonds have a coupon rate of 6.96% per annum and are issued at par. “The bonds will be listed on the National Stock Exchange (NSE), ICICI Bank said.

The bank recently announced that it has partnered with 70 leading companies on ‘CorpConnect’ – the bank’s digital platform it launched last year to enable businesses to make payments. and collect money instantly to/from their channel partners.

CorpConnect also provides instant free and collateralized digital channel funding solutions such as agent financing for distributors and vendor financing, reverse factoring for suppliers. . Some of these companies include ArcelorMittal Nippon Steel India, Asian P Paint, Blue Star, Crompton Greaves Consumer Electricals Limited, Exide Industries, among others.

On Friday, December 17, shares of ICICI Bank fell 1.77% at Rs 728.20/piece on BSE. ICICI Bank Raises Rs 5,000 of Crore Debt by Issuing Bonds on a Private Placement Basis

Emma James

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