ICICI Bank Archives - indiabusinessview

ICICI Bank raises $1 billion in foreign currency bonds

May 20, 2011August 20, 2014Editor

ICICI Bank has issued foreign currency notes with a face value of $1 billion or about Rs 4,500 crore. This has been sold through the bank’s Dubai branch. The five and a half year tenure bonds will carry a coupon rate of 4.75%. They were issued at a price of 99.665% of the face value, which translates to a spread of 251.5 basis points over the London Inter-bank Offered Rate (Libor).

ICICI Bank’s loan provisions halve, net profit up by 31%

January 24, 2011August 20, 2014Editor

ICICI Bank’s December quarter results were better than expectations, and it appeared to be benefiting from a phase, when rising interest rates result in better yields on loans, as the cost of funds rises with a lag. It has also managed to improve its asset quality during the quarter, which is a positive sign.

ICICI Bank raises $750mn through overseas bond offering

November 21, 2009August 20, 2014Editor

ICICI Bank has raised funds from its Bahrain branch, picking up about $750mn or about Rs 3,490 crore through a fixed rate note issue. The notes will carry a fixed rate of 5.5% which is 293 basis points over the London Inter-Bank Offered Rate (Libor). According to the bank, the issue got a good acceptance with bids of over $3bn. The bank has not mentioned any specific reason for raising these funds.