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ICICI Bank has announced that it has raised $750 million by way of an issue of bonds, in the international market.
The 5.5-year, fixed rate notes carry a coupon rate of 4.7 per cent. The notes were issued at 99.813 per cent (of the value of the bonds), “which is a spread of 364 basis points over the equivalent LIBOR’’, says the bank’s announcement.
As many as 312 investors had subscribed to the issue. The total value of subscription amounted to $5.7 billion — an over subscription of 7.6 times.
On the NSE today, the ICICI Bank shares opened at Rs 971.40, which was 60 paise higher than the previous close.
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