ICICI Bank raises Rs 5,000 crore loan capital by issuing bonds on a private placement basis

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Shares of ICICI bank fell 1.77 percent to 728.20 rupees each on BSE.

ICICI Bank raised loan capital of Rs 5,000 crore by issuing bonds on a private placement basis. The board of directors of the country’s leading private lending bank approved the fundraising by issuing debt securities in April this year.

“In accordance with this, the bank awarded 50,000 senior unsecured long-term redeemable bonds in the form of bonds totaling 5,000 crore rupees on the basis of a private placement,” according to an ICICI regulatory filing. Bank on the stock exchanges today.

The date of allocation of the bonds is December 17, 2021, he said. The private sector lender said the bonds are repayable after 10 years – the repayment date being December 17, 2031. “There are no special rights / privileges attached to the bonds.

The bonds carry a coupon of 6.96% per annum payable annually and were issued at par, ”said ICICI Bank. The bonds will be listed on the National Stock Exchange (NSE). They have been rated AAA stable by Care Ratings and ICRA.

Recently, the bank announced that it has integrated 70 leading companies into ‘CorpConnect’, the bank’s digital platform it launched last year to enable businesses to make payments and collections. snapshots to / from their channel partners.

CorpConnect also offers instant and unsecured digital channel financing solutions such as dealer financing for distributors and supplier financing, reverse factoring for suppliers. Some of these companies include ArcelorMittal Nippon Steel India, Asian Paints, Blue Star, Crompton Greaves Consumer Electricals Limited, Exide Industries, among others.

On Friday, December 17, shares of ICICI Bank fell 1.77 percent to 728.20 rupees each on BSE.

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John A. Bogar