The final price of the Singapore-listed, Reg-S issue was 62bp over three-month Libor, compared to initial guidance in the area of 65bp. Final guidance was between 62bp and 64bp. This is the tightest pricing ever for a five-year issue from ICICI, say specialists.
The funds are to be used to buttress growth, which has seen assets rocket from $0.11 billion in 2004 to $3.6 billion in 2006. The bank was set up in 2003.
Deutsche Bank and Barclays Capital arranged the deal.
Demand for the deal came in...