ICICI Bank plans to raise SGD250 million through a 7-year Singapore dollar-denominated bond, according to investment bankers. The coupon on the bond is expected to be close to 4%, bankers said. The paper has been rated Baa2 by Moodys and BBB- by Standard & Poors and the bonds are to be listed on the Singapore Stock Exchange.
LIC hikes stake in Infosys to 7.24%
Life Insurance Corporation (LIC) has increased its holdings in IT services exporter Infosys over the last three quarters to touch 7.24% as per the latest records available on the stock exchanges. According to data, the insurance giant is the single largest public shareholder in Infosys followed by Oppenheimer Developing Markets Fund and Abu Dhabi Investment Authority.