ICICI Bank authorizes the private offering of ₹3,945 cr in Tier 2 bonds.

By issuing unsecured, subordinated, listed, non-convertible Tier 2 Basel III-compliant notes, ICICI Bank has raised ₹3,945 crore. According to its stock exchange filing, the bank distributed 3,945 debentures, each with a face value of ₹1 crore, to specific investors on a private placement basis. The bonds have a 15-year term, a 7.40% coupon, and a 10-year call option. ICICI Bank's shares ended the day on the NSE at ₹1,388.40, down 0.27%, prior to the news.