The Hindu Business Line : ICICI Bank to float bonds for Rs 400 cr

ICICI Bank is launching the second public offer of unsecured redeemable bonds in the nature of debentures aggregating Rs 400 crore with a right to retain oversubscription of up to Rs 400 crore, called ICICI Bank Bonds-February 2005.

The issue will be open for subscription on February 28 and close on March 9.

The issue offers various options under three types - Tax Saving Bond, Regular Income Bond and Children Growth Bond.

The Tax Saving Bond comes with two options, each with an issue price of Rs 5,000 and redemption period of 5 years. Under the first option, the face value of the bond is Rs 5,000, with an interest rate of 6 per cent. The second option is a deep discount bond with a face value of Rs 6,700 (yield to maturity of 9.6 per cent).

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