ICICI inks 5-year rupee IRS with Citibank
ICICI has entered into a five-year rupee interest rate swap with Citibank. This is the fourth long-term swap deal in the IRS market during the fortnight.
The ICICI-Citibank swap deal has a notional amount of Rs 50 crore. The fixed portion of the swap is based on the yield on the four-year government security, while the floating rate is based on the one-year G-sec yield.
“The floating rate will be reset on an annual basis, for which five securities have been identified to provide a perfect residual maturity,” said an ICICI official.
ICICI has entered into a five-year rupee interest rate swap with Citibank. This is the fourth long-term swap deal in the IRS market during the fortnight.
The ICICI-Citibank swap deal has a notional amount of Rs 50 crore. The fixed portion of the swap is based on the yield on the four-year government security, while the floating rate is based on the one-year G-sec yield.
“The floating rate will be reset on an annual basis, for which five securities have been identified to provide a perfect residual maturity,” said an ICICI official.