ICICI Bank raises Rs 11.4 billion via issuing Basel III bonds

Private sector lender ICICI Bank Friday said it has raised Rs 1,140 crore by issuing Basel III compliant bonds on private placement basis.

"The Bank has allotted 11,400 Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in the nature of debentures aggregating INR 11.40 billion on private placement basis," ICICI Bank said in a regulatory filing.

The date of allotment is December 28, 2018, it added.

The bonds, carrying a coupon of 9.90 per cent per annum, are rated AA+ by rating agencies CARE, ICRA and Crisil.

Stock of ICICI Bank closed 1.59 per cent up at Rs 361.05 on BSE.