bond-investors-want-transparency-from-icici-uk

Bond investors want transparency from ICICI UK

The UK subsidiary of the Indian bank is advised to clear up some of the confusion surrounding ICICI's borrowing strategy ahead of its proposed $500 million benchmark issue.
ICICI UK kicked off a roadshow for a rumoured $500 million benchmark bond deal this week. Bookrunners Citi, Lehman Brothers and Merrill Lynch have reportedly advised the Indian bank to demonstrate increased transparency and a firmer strategy regarding its borrowing programme. Indian paper has underperformed this year due to the glut of paper arriving on the market.

Elements of the buy-side feel the bank and its parent ICICI Bank have ôborrowed and sought any pocket of liquidity they can findö, despite the parent intimating a reduction in borrowing activities earlier this year.

ôICICI UK has not actually issued large quantities of paper, but the lack of a clear strategy concerning future issuance from both ICICI...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222