Mumbai: ICICI Bank is expected to raise at least 5 billion rupees ($83.24 million) via 10-year bonds intended towards infrastructure lending at a semi-annual coupon of 9.15 percent, 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.
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