The private sector lender has raised 5,000 crore through bonds for funding projects in segments like power and roads, etc.
The coupon for seven-year paper was fixed at 7.63 per cent, about 25 basis points above the yield on government benchmark bonds with similar maturity. The fundraise came a day after the Monetary Policy Com mittee of Reserve Bank of India decided to raise the policy repo rate by 35 basis points to 6.25 per cent.
The base issue size for ICICI Bank's infra bonds was 1,000 crore with the greenshoe option of Rs 4,000 crore. The issue received bids for close to 20,000 crore from investors, according to debt market sources.
The sources said that besides ICICI, who raised money through include Bank of Baroda and the country's largest lender State Bank of India. Last week, SBI had raised 10,000 crore through the maiden issue of 10 year bonds with the coupon 7.51 per cent.
Axis Bank and other Indian lenders have raised more than 27,000 crore through infra bonds, raising a total of Rs 19,600 crore in the current financial year.
ICICI Bank's infrastructure bonds have AAA credit rating from CRISIL. The outstanding borrowings through infrastructure bonds stood at around Rs 40,824 crore at the end of September 2022, up from Rs 22,314 crore a year ago, according to an analyst presentation.