ICICI executes rare 10-year bond by Indian bank

India's largest private sector bank hopes scarcity value will overcome aggressive pricing.

ICICI executes rare 10-year bond by Indian bank

ICICI, India's largest private sector bank, completed the first 10-year bond from a domestic banking institution in nearly two years on Monday with a $700 million transaction that pushed pricing to its limits.

Nevertheless, fixed-income analysts expect the Reg S144a deal to trade in during secondary market trading on Tuesday thanks to a scarcity of paper, not only from India but also from investment grade institutions offering yields above 4% at the 10-year...

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