New Delhi, October 12: The country’s second-largest lender ICICI Bank today said it is planning to raise USD 150 million in offshore borrowing this fiscal. The bank said the committee of executive directors in a meeting held yesterday 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 per cent fixed rate notes maturing September 2022 for an amount of USD 150 million on private placement basis,” ICICI Bank said in a regulatory filing. With this, ICICI Bank’s outstanding amount under this this ISIN (International Securities Identification Number) would be USD 650 million, it added.
The lender said the bonds will be listed on Singapore Stock Exchange.
Shares of ICICI Bank closed 0.72 per cent down at Rs 267.30 on BSE today.
This is published unedited from the PTI feed.