ICICI hits overseas bond market again; may raise $500 mn

This is the third bond sale by the city-based lender so far this year.

Written by Press Trust Of India | New Delhi | Published:November 19, 2013 3:15 am

As part of the its $5 billion medium-term note programme,country’s largest private sector lender ICICI Bank today hit the overseas bond market with the third such programme this year.

The bank has given a final pricing guidance for the benchmark 5.5-year issue at 360 basis points over the US treasury,according to merchant bankers. This is the third bond sale by the city-based lender so far this year. It had raised S$225 million early January in a seven-year bond sale programme through its Dubai branch at a coupon of 3.65 per cent and a 1-billion Chinese yuan issue (around $100 million) in June.

“We have launched a US dollar-denominated Reg S benchmark bond sale programme for ICICI Bank with an initial final price guidance of 360 bps above the US treasury,” one of the merchant bankers said. A US dollar-denominated benchmark bond issue can be to the tune of $500 million and above.

When contacted,ICICI refused to comment saying the issue is yet to be closed.

For all the latest News Archive News, download Indian Express App

  1. No Comments.