ICICI Bank buys back Rs 200 cr of bonds
ICICI Bank on Thursday said it has bought back Rs 200 crore of bonds out of the Rs 8,000-crore bonds issue exercised from its Bahrain branch in October last year.
By PTI |
MUMBAI: Country's second largest lender ICICI Bank on Thursday said it has bought back Rs 200 crore (around $50 million) of bonds out of the Rs 8,000-crore ($2-billion) bonds issue exercised from its Bahrain branch in October last year.
"$50-million worth bonds have been bought back from the $2-billion bonds issue exercised in October," an official with ICICI Bank said.
"There is no specific reason for the buy-back," the official said.
With this, the private bank has bought back $200 million worth of bonds issued from the Bahrain branch.
From the $2-billion issue, the bank has so far bought back $150 million, including today's transaction.
Early this year, the bank had bought back another $50 million of bonds from a $750 million bond issue exercised in January 2007.
The lender had earlier reported marked-to-market losses of $264.34 million (around Rs 1,056 crore) on account of its exposure to credit derivatives and investments as on January 31, following the US sub-prime crisis.
"$50-million worth bonds have been bought back from the $2-billion bonds issue exercised in October," an official with ICICI Bank said.
"There is no specific reason for the buy-back," the official said.
With this, the private bank has bought back $200 million worth of bonds issued from the Bahrain branch.
From the $2-billion issue, the bank has so far bought back $150 million, including today's transaction.
Early this year, the bank had bought back another $50 million of bonds from a $750 million bond issue exercised in January 2007.
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The lender had earlier reported marked-to-market losses of $264.34 million (around Rs 1,056 crore) on account of its exposure to credit derivatives and investments as on January 31, following the US sub-prime crisis.
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