ICICI prices bond in euros

Despite difficult market conditions, ICICI Bank's latest bond attracts decent demand.

After an extensive roadshow, ICICI BankÆs Ç500 million two-year floating rate Reg-S bearer note priced on Friday in London at the tight end of initial guidance in a market that is still finding its feet.

Bookrunners Deutsche Bank, Citigroup, BNP Paribas, and HSBC helped ICICI rated BBBBaa2 achieve a benchmark deal and significant diversification of its investor base. The note priced at par at 40bp over Euribor, or 39bp over dollar Libor.

ôThe market settled thanks to favourable economic...

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