ICICI to float Rs 400-cr unsecured bonds

Our Banking Bureau

Mumbai, June 6: ICICI Ltd will come out with a Rs 400-crore unsecured redeemable bonds issue with a greenshoe option of Rs 400 crore. The issue will open for subscription on June 11, 2001 and will remain open till June 29.

The financial institution would make this offer under the umbrella prospectus approved by the Securities and Exchange Board of India for a total of Rs 5,000 crore with the right to retain oversubscription of 100 per cent during fiscal 2001-02, ICICI said in a release here on Wednesday.

The issue offers various options under five types of bonds namely Encash, regular income, money multiplier, children growth and pension, it added.

Non-resident Indians/overseas corporate bodies are also eligible to invest in regular income bond, money multiplier bond, children growth bond and the pension bond on both repatriable and non-repatriable basis, ICICI said.

Credit rating agencies, ICRA and CARE, have assigned the highest safety ratings to ICICI Safety Bonds with regards to timely payment of principal and interest.