INSUBCONTINENT EXCLUSIVE:
Shares of ICICI Bank settled 1.77 per cent lower at Rs 728.20 apiece on the BSE.ICICI Bank has raised Rs 5,000 crore debt capital by issuing
bonds on a private placement basis
The board of directors of the country's leading private lender bank had approved to raise funds by issuing debt securities in April this
year."Pursuant to the same, the bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating
to Rs 5,000 crore on private placement basis," according to a regulatory filing by ICICI Bank to the stock exchanges today.The bond
allotment date is December 17, 2021, it said
The private sector lender said that the bonds are redeemable at the end of 10 years - redemption date being December 17, 2031
"There are no special rights/privileges attached to the bonds.The bonds carry a coupon of 6.96 per cent 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 on-boarded 70 leading companies on
'CorpConnect' - which is the bank's digital platform that it launched last year to enable corporates to undertake instant payments and
collections to/from their channel partners.CorpConnect also offers instant and collateral free digital channel financing solutions such as
dealer finance for distributors and vendor finance, 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 settled 1.77 per cent lower at Rs 728.20 apiece on the BSE.
