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.

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.

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