ICICI Bank has received an approval for the allotment of 10,800 Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds aggregating Rs 10.80 billion on private placement basis. The notes carry a coupon of 8.55% 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 Committee of Executive Directors of the Bank at its meeting held on September 20, 2017 has approved the same.
ICICI Bank is India’s largest private sector bank by consolidated assets. The Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management.
