ICICI Bank raises Rs 50 bn to fund business growth

Private sector ICICI Bank said it has raised Rs 50 billion through bonds to fund business growth. The bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 50 billion on private placement basis, the date of allotment being December 12, 2022, it said in a regulatory filing. The bonds are redeemable at the end of 7 years (redemption date being December 12, 2029), it said. There are no special rights or privileges attached to the bonds, it added. The bonds carry a coupon of 7.63 per cent payable annually and were issued at par, it said, adding, the bonds would be listed in the relevant segment of the NSE. Also Read Recycling of compostable plastic mandatory from 2023-24 Noida metro Aqua Line gets green signal from PIB