ICICI bank may raise at least `500 crore in bonds for infra lending
ICICI Bank is expected to raise at least Rs500 crore via 10-year bonds intended towards infrastructure lending
Mumbai: ICICI Bank Ltd is expected to raise at least ₹ 500 crore via 10-year bonds intended towards infrastructure lending at a semi-annual coupon of 9.15%, two sources said on Friday.
The deal could be expanded via a greenshoe option, the two sources said.
The bond sale comes on the heels of the Reserve Bank of India’s (RBI) announcement last week allowing bonds sold by lenders to be exempt from mandatory reserve requirements if the proceeds are lent to the infrastructure sector. Reuters
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