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ICICI Bank raises $200 million via overseas bond issue

09 Dec 2014 Evaluate

To take the advantage of prevailing historic low interest rates in global market, ICICI Bank has raised $200 million by selling overseas bonds with five-and-half year maturity.  The offshore bonds were priced at 3.35%, about 166 basis points above the five-year US Treasury bond yields. Three months ago, the bank had mopped up $500 million through similar securities priced at 3.50%. 

ICICI Bank is India's largest private sector bank with consolidated total assets of US $ 124.76 billion at March 31, 2014. Its subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. The Bank's presence spans 18 countries, including India. The bank has posted a rise of 15.18% in its net profit at Rs 2709.01 crore for the quarter ended September 30, 2014 as compared to Rs 2352.05 crore for the same quarter in the previous year.

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