ICICI Bank buys back $50 mln of bonds

ICICI Bank, India’s second biggest bank, said on Monday it had bought back and retired bonds with a face value of $50 million that were due to mature in 2012, its second such transaction in March.The bonds, which had a 5.75% coupon, were issued by the bank’s Bahrain branch.

On 8 March, it had said it has bought back and retired $50 million of bonds with a 6.625% coupon that were due to mature in 2012 and were also issued by its Bahrain branch.