ICICI Bank has raised funds to the tune of Rs 4,000 crore through bonds on private placement basis in order to fund growth. The Committee of Executive Directors of the bank at its meeting has approved the allotment of 40,000 Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in the nature of debentures aggregating Rs 4,000 crore.
The notes carry a coupon of 9.15 per cent payable annually and were issued at par. The bonds would be listed on the Wholesale Debt Market segment of BSE or National Stock Exchange of India.
ICICI Bank is India’s largest private sector bank by consolidated assets. The bank’s consolidated total assets stood at $165 billion at December 31, 2017.
