ICICI Bank plans $500 million bond issue via GIFT City
pre-market1 source ↓written by the desknot a recommendation
- through five-year dollar-denominated
- $500 million
- over US treasuries
- 90-95 basis points
ICICI Bank aims to raise $500 million through five-year dollar-denominated bonds, tapping the RBI's concessional dollar-rupee swap facility. This marks the bank's first US dollar bond sale in nearly a decade. The funds will primarily support client financing, leveraging up to nine times, with pricing expected at 90-95 basis points over US treasuries. 📈
This issuance reflects a strategic move to enhance liquidity and client support amid favorable economic conditions.
Not investment advice. For informational purposes only.