ICICI note raises $500m on favourable terms

The Indian bank priced the dollar-denominated five-year bond below initial guidance as yield-hungry investors sought buying opportunities ahead of an anticipated Fed interest rate hike.

ICICI note raises $500m on favourable terms

India's ICICI Bank raised $500 million through the sale of a five-year bond on Wednesday after pricing the deal below initial guidance of Treasury plus 180 basis points as investors sought to deploy capital ahead of an anticipated interest rate hike by the US Federal Reserve.

The Reg-S offering, the first new Indian dollar-denominated bank deal after Bank of India's $750 million sale in late April, priced at Treasury plus 160bps, well...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: bonds | icici | india | banks

Print Edition

FinanceAsia Print Edition