India’s Icici Bank to issue unsecured subordinated perpetual bonds

By Susanna Moon

Chicago, March 9 – Icici Bank Ltd. notified the Bombay Stock Exchange that it plans to issue Basel 3 compliant unsecured subordinated perpetual bonds.

The additional tier 1 bonds will be issued in one or more tranches in any currency by way of public or private placement, according to the company notice.

The notes were approved at an executive directors meeting held on Thursday.

Icici Bank is based in Mumbai.

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