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ICICI Bank has raised Rs 3,425 crore through issue of Basel III complaint bonds on a private placement basis.
The bank has said in a regulatory filing that the Committee of Executive Directors of the bank at its meeting, approved the allotment of 34,250 Basel III complaint unsecured, subordinated, perpetual additional tier-I bonds aggregating Rs 34.25 billion on private placement.
The bonds carry a coupon rate of 9.20 percent per annum payable annually.
