At what rate did ICICI Bank finally raise funds via issue of infrastructure bonds?

ICICI Bank has completed raising Rs.8,000 crore via infrastructure bonds with a tenure to maturity of 10 years and at an attractive coupon rate of 7.12%. ICICI Bank allotted 80,000 bonds with a face value of Rs.1 million each aggregating to Rs.8,000 crore on private placement basis.

The bonds will be redeemed in March 2032. The yields are fairly attractive for the bank considering the current benchmark 10-year bond yields. These bonds have been rated AAA by CRISIL, ICRA and CARE and will be listed on the NSE. The stock of ICICI Bank moved up marginally higher in response on Friday.