ICICI Bank Raises $500 Million From Overseas Bond Sale

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Through the overseas bond sale, the private banker, ICICI Bank has raised US$ 500 million at a coupon rate of 3.833 % p.a. As informed to the PTI, the ten-year US dollar bond sale was made through the Dubai branch of the bank.

ICICI Bank Raises $500 Million From Overseas Bond Sale

The USD7.5 billion global medium term note programme of the bank include the RegS issue which is sold to non-American investors in the US. Moody, the international rating agency firm has assigned a Baa3 rating to the bond issue with the stable outlook.

The agency reported that unsecured notes from the Dubai branch of ICICI bank shall be listed on the Singapore Stock Exchange. Citigroup is the advisor to the deal.

The bank scrip of Friday closed higher by 1.49% on the BSE at Rs. 310.55

With Inputs From PTI

Read more about: icici bank, bond, coupon, moodys
Story first published: Saturday, December 9, 2017, 13:38 [IST]
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