By Tali Rackner
Minneapolis, March 20 – Icici Bank Ltd. priced Rs. 40 billion of 9.15% Basel III compliant unsecured subordinated perpetual additional tier 1 bonds (expected rating: Baa3/BBB-) at par, according to a company news release on Tuesday.
The debentures were sold on a private placement basis and will be listed on wholesale debt market segment of the BSE Ltd. and/or the National Stock Exchange of India Ltd.
Icici Bank is based in Mumbai.
| Issuer: | Icici Bank Ltd.
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| Amount: | Rs. 40 billion
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| Description: | Basel III compliant unsecured subordinated perpetual additional tier 1 bonds
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| Coupon: | 9.15%, payable annually
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| Price: | Par
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| Allotment date: | March 20
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| Ratings: | Credit Analysis & Research Ltd.: CARE AA+
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| ICRA Ltd.: [ICRA]AA+
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