ICICI buys back $50 million bondsApril 3rd, 2008 - 3:55 pm ICT by admin
Mumbai, April 3 (IANS) India’s biggest private lender ICICI Bank Thursday said it has bought back and retired bonds with a face value $50 million that were due to mature in 2012, its third such transaction within a month. The bonds, which had a 6.625 percent coupon, were issued by the bank’s Bahrain branch, ICICI said in a statement.
On two occasions last month, the bank said it has bought back and retired $50 million of bonds with a 6.625 percent coupon that were due to mature in 2012 and were also issued by its Bahrain branch.
Earlier in March, following the sub prime crisis in the US, ICICI’s foreign operations had reported a loss of $264 million from its exposure in that market.