ICICI prices $750 million bond in difficult markets

ICICI, India's biggest private sector bank, defies poor markets and issues a $750 million five-year bond.

In tough market conditions, ICICI belatedly followed State Bank of India to raise cash in the international bond markets late on Friday. India's biggest private sector bank managed to issue a $750 million five-year bond when the market for Asian credits, after a record year for new issuance -- both in terms of volume and number of deals -- seemed almost closed as fund managers counted their blessings or licked their wounds before year-end appraisals.  

The...

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