ICICI Bank raises Rs 4,000 crore through bonds to fund business growth

Private sector lender ICICI Bank on Tuesday said it has raised Rs 4,000 crore via bonds to fund business growth.

The bank has allotted 4,00,000 senior unsecured redeemable long-term bonds in the nature of non-convertible debentures aggregating to Rs 4,000 crore on private placement basis and the date of allotment being October 3, 2023, ICICI Bank said in a regulatory filing.

The bonds are redeemable at the end of 10 years (redemption date being October 3, 2033), it said.

There are no special rights or privileges attached to the bonds, it said.

The bonds carry a coupon of 7.57 per cent per annum payable annually and were issued at par, it said, adding, the bonds would be listed in the relevant segment of the NSE.