ICICI Bank raises US$ 50 mn through private placement under its GMTN programme

On July 6,2017, ICICI Bank, which is engaged in providing a range of banking and financial services, reported that the bank has raised US $50 million by way of tap of its existing US $700 million fixed rate notes maturing in March 2026.

The note was issued on a private placement basis through the Dubai International Financial Centre (DIFC) branch of the bank and this note shall carry a semi-annual coupon of 4 per cent and will be listed on the Singapore Stock Exchange.

This is a part of ICICI Bank existing US$700 million Global Medium Term Note (GMTN) Programme, which had been approved by the Committee of Executive Directors of the bank under the offshore borrowing plan for the FY18 at its meeting held on May 10,2017.

On July 7, 2017, ICICI Bank was trading at Rs 291.25, down by 0.78 per cent on BSE at 09:59 hours. It opened at Rs 295 while on Thursday it closed at Rs 293.55. It touched its intraday high at Rs 295 and low at Rs 290.30. Its 52-week high and low was Rs 297.70 and 215.39 respectively.S&P BSE Bankex was trading at 26503.18, down by 0.23 per cent.