ICICI Bank's international bond of Rs 590 crore sold under Tokyo Pro-Bond Programme

ICICI Bank on Friday said that it has sold nearly Rs 590 crore international bond under Tokyo-Pro Bond Programme via its Dubai brand (DIFC).

It said in a release,"The bank acting through its DIFC (Dubai) branch, priced an issuance of 5 year fixed rate notes of an aggregate principal amount of JPY 10 billion (which at current Indian rupee is approximately Rs 590.08 crore)."

The bank sold the noted under the above mentioned program which is listed in the Tokyo Stock Exchange, at a coupon rate of 0.678%. 

Further, the board of directors in a meeting held on Friday,  also approved the proposal of borrowing plan for the remaining period of current fiscal year (FY17).

On December 06, 2016, the bank has said, "It plans fund raising in single/multiple tranches in any currency through public/private placement by way of issuance of debt instruments for remaining period of FY17."

Shares of ICICI Bank were trading at Rs 267.70 per share on BSE, up by Rs 5.50 or 2.10%.