ICICI Bank raises $1 billion in largest dollar bond issue
after close1 source ↓written by the desknot a recommendation
- through a five-year
- $1 billion
- over the five-year
- 100 basis points
- yield
- 5.46% coupon
- 2.3 times oversubscribed
- in orders
- $2.3 billion
ICICI Bank has raised $1 billion through a five-year senior unsecured US dollar bond, marking the largest single-tranche dollar issue by an Indian issuer this year. The bond was priced at 100 basis points over the five-year US Treasury yield with a 5.46% coupon and was 2.3 times oversubscribed, attracting over $2.3 billion in orders from global investors.
This successful issuance signals strong investor confidence in ICICI Bank's credit profile and India's banking sector, leveraging the Reserve Bank of India's concessional swap window to reduce hedging costs for overseas borrowings.
Not investment advice. For informational purposes only.