InvestorQ : What is ICICI Bank raising Rs.8,000 crore of infrastructure bonds for?
Mahima Roy made post

What is ICICI Bank raising Rs.8,000 crore of infrastructure bonds for?

Answer
image
2 months ago
Follow

ICICI Bank will raise Rs.8,000 crore via infrastructure bonds to bankroll its key projects in transportation, power and affordable housing. These bonds have already been assigned “AAA/Stable” by CRISIL. ICICI will take the call whether to raise the funds in one go or in multiple tranches, as is the normal practice.

It is likely to be a Rs.500 crore issue with a Greenshoe option to retain an additional Rs.7,500 crore. While the paper will have a 10-year tenure, the coupon is not yet announced although it is expected to be around 7.25%. The funds raised via infrastructure bonds will be exempt from the CRR/SLR norms.

4 Views