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Home / Market / Stock-market-news /  ICICI Bank to raise $150 million via offshore bonds this fiscal

New Delhi: The country’s second largest lender ICICI Bank on Wednesday said it is planning to raise $150 million in offshore borrowing this fiscal.

The bank said the committee of executive directors in a meeting held on Tuesday approved the offshore borrowing plan for 2017-18.

“The bank, under its GMTN (global medium term note) programme, acting through its DIFC (Dubai) branch, tapped its existing 3.25% fixed rate notes maturing September 2022 for an amount of $150 million on private placement basis," ICICI Bank said in a regulatory filing.

With this, ICICI Bank’s outstanding amount under this ISIN (International Securities Identification Number) would be $650 million, it added.

The lender said the bonds will be listed on Singapore Stock Exchange.

Shares of ICICI Bank closed 0.72% down at Rs267.30 on BSE on Wednesday.

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