Business Standard

ICICI Bank raises Rs 4000 crore AT-I capital

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Capital Market

Through private placement of Additional Tier 1 bonds

The Committee of Executive Directors of ICICI Bank at its meeting held on 20 March 2018 has approved the allotment of 40,000 Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in the nature of debentures aggregating Rs 4000 crore on private placement basis, date of allotment being 20 March 2018. The notes carry a coupon of 9.15% p.a. payable annually and were issued at par. The bonds would be listed in the Wholesale Debt Market segment of BSE and/or National Stock Exchange of India.

The bonds are rated CARE AA+; Stable by Credit Analysis & Research and [ICRA]AA+ (hyb) by ICRA.

 

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First Published: Mar 21 2018 | 9:25 AM IST

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