The bank plans to invest around $5 billion for infrastructure lending bonds
A group of 69 NRI investors sued ICICI Venture at the Supreme Court in Mauritius
Mumbai: India's ICICI Bank is expected to raise at least 5 billion ($83.24 million) via 10-year bonds intended towards infrastructure lending at a semi-annual coupon of 9.15 per cent, two sources said on Friday.
The deal could be expanded via a greenshoe option, the two sources said.
The bond sale comes on the heels of the Reserve Bank of India's announcement last week allowing bonds sold by lenders to be exempt from mandatory reserve requirements if the proceeds are lent to the infrastructure sector.
( Source : reuters )
Next Story
