Both ICICI to raise Rs 5,000 crore through bonds

7 Dec 2022 , 02:43 PM

According to sources, private sector lender ICICI Bank is expected to issue long-term bonds on Thursday to raise Rs 5,000 crore. As per the sources, the bonds have a base size of Rs 1,000 crore and a greenshoe option of Rs 5,000 crore. They are expected to mature in seven years. The securities are senior unsecured long-term redeemable bonds with debenture-like characteristics.

The sources claim, "ICICI Bank is likely to establish a fixed coupon of 7.63% for the bonds." The yield on the most liquid seven-year government bond finished at 7.22 % on Tuesday, while the yield on the benchmark 10-year bond was 7.25 %.

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