India New Issue-ICICI Bank to issue 15-year tier II bonds, bankers say

Icici Prudential Life Insurance

26/11/2025 07:26

MUMBAI, Nov 26 (Reuters) - India's ICICI Bank ICBK.NS plans to raise 40 billion rupees ($448.17 million) selling Basel III compliant tier II bonds maturing in 15 years, three merchant bankers said on Wednesday.

The private sector has invited coupon and commitment bids from bankers and investors on Thursday, they said.

The bonds will have a call option at end of 10 years.

The bank did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on November 26:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
ICICI Bank
15 years
To be decided
10+30
November 27
AAA (Care, Icra)
Muthoot Finance
3 years and 86 days
7.85
3+7
November 27
AA+ (Crisil,ICra)
ICICI Prudential Life
10 years
7.69
11+1
November 27
AAA (Crisil, Icra)

*Size includes base plus greenshoe for some issues

($1 = 89.2520 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

((Dharamraj.dhutia@tr.com))