ICICI Bank Prices USD 300 Million Senior Unsecured Notes Due 2031
ICICI Bank priced USD 300 million Senior Unsecured Fixed Rate Notes due August 13, 2031. The notes offer a 5.352% coupon, payable semi-annually. Proceeds will be used for general corporate purposes. The issuance is part of the bank's USD 7.5 billion Global Medium Term Note Programme.
The issuance of debt impacts the bank's capital structure and funding costs, which is a significant but routine event for a large financial institution.
The announcement is a routine debt issuance under an existing program and does not contain any specific positive or negative financial performance indicators.
ICICI Bank Limited, through its IFSC Banking Unit, has priced USD 300 million in Senior Unsecured Fixed Rate Notes. These notes mature in five years, with an allotment date of August 13, 2026, and a maturity date of August 13, 2031. The notes carry a coupon of 5.352%, with interest payable semi-annually on February 13 and August 13 each year. The net proceeds from this issuance will be utilized for the bank's general corporate purposes, adhering to relevant regulatory guidelines. The notes are proposed to be listed on the Global Securities Market of India International Exchange IFSC Limited and the Debt Securities Market of NSE IFSC Limited. This issuance is part of the bank's USD 7.5 billion Global Medium Term Note Programme.
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ICICI Bank Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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