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ICICI raises Rs 2,827 crore by issuing bonds

In April, the board had approved this fundraising by issuing debt securities.

Mysuru: ICICI Bank stated on June 15 that it has raised Rs 2,827 crore by issuing bonds and debt securities on a private placement basis.

In April, the board of directors of ICICI Bank had approved the fundraising by issuing debt securities. In a regulatory filing, the bank said that it has allotted 28,274 senior unsecured redeemable long-term bonds in the nature of debentures amounting to Rs 2,827 crore on a private placement basis.

The bank said that the allotment date is June 15, 2021. The redemption date is June 15, 2028. The regulatory filing also added that there are no special rights and privileges attached to the bonds and the bonds carry a coupon of 6.45 percent per annum payable annually and were issued at par.

The ICICI bank also said that it will list the bonds in the relevant segment.

The bonds are rated CARE AAA Stable by Credit Analysis and Research, and they are rated ICRA AAA Stable by ICRA, the independent credit rating agency.

The bank also stated, according to reports, is that to send instant remittances to India, non-residents can visit their bank overseas and initiate remittance transaction through SWIFT GPI Instant.

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Sindhu Nagaraj

Global Business Line Team
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