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ICICI Bank plans infra bonds

Infrastructure Finance
August 1, 2014August 1, 2014
ICICI Bank plans infra bonds
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ICICI Bank is planning to raise Rs 1,000 crore of funds through infrastructure bonds. The lender is planning to issue 10-year bonds worth Rs 500 crore with an equal over-allotment option. The coupon rate of these semi-annual, 10-year bonds is likely to be 9.15 per cent. Initially, ICICI Bank is testing the market with a smaller issue and might raise more money later, depending on the market appetite.

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