ICICI back in the bond market

Indian bank hopes scarcity value will drive pricing of new international bond deal.

ICICI Bank, India's second largest commercial bank after the State Bank of India and the largest private sector bank in the country, announced a $300 million dollar five-year 144A bond issue yesterday November 7. Deutsche Bank and Merrill Lynch have been appointed joint bookrunners for the transaction.

The deal will represent the second offshore bond issue by an Indian bank this year following a $250 million 5.375% five-year offering for Bank of India in late...

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