The news item which is most scary for icici bank shareholder is the premium demanded by credit default swap writer has gone up by 130 basis point. this is insurance premium demanded if you want to cover your investment in icici bond overseas... i am qouting the news below published in bloomberg..
The cost of default protection on ICICI rose to a record, credit-default swaps show.
Five-year contracts on the bank's debt were quoted 130 basis points higher at 900, Barclays Capital prices show. The swaps, which rise as perceptions of credit quality deteriorate, are equivalent to $900,000 annually to protect a $10 million investment in the notes.
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