The deal was rumoured last week at $1 billion - and that would still have been a noteworthy transaction. However, as ICICI and its bankers started talking to investors in cities around the world, the stars aligned to produce a unique transaction. ôWhat was different about this dealö says one banker rhetorically. ôEverything. ItÆs a monster, a totally different animal.ö
Indeed it is. Indian borrowers have typically raised relatively small amounts offshore and...
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