India Inc India Inc: Monday, 23 May 2011 10:58

ICICI raises funds for expansion

ICICI Bank has raised $1 billion through bonds from the overseas market.

The five-and-a-half-year fixed rate notes carry a coupon of 4.75 per cent, it said in a statement this week. The notes were issued through the bank's Dubai branch.

The proceeds from the issue will be used to fund the bank's international operations and for general corporate purposes.

The offering had an order book of $2.70 billion with strong interest from over 220 investors. The bonds were issued under existing $5 billion medium-term notes programme.

A number of Indian lenders have tapped the dollar market this year, including Syndicate Bank and Indian Overseas Bank, but ICICI is the first to tap professional investors in the US.

The deal gathered an order book of $2.7 billion from more than 200 investors.

Login to post comment

TECH SPEAK

 

GLOBALLY SPEAKING

Business of technology with Nitin Dahad - India's tech steps towards urban mobility
Read More...

 

Globally Speaking with Manoj Ladwa - Indian Wealth Management Opportunities in Uncertain Times
Read More...

REALTY CORNER

 

FACE TO FACE 

Analysis with Deepak Varghese - Return of sustainable price levels
Read More...
  In conversation with Shiv Morjaria - Patricia Hewitt, Chair of the UKIBC & Former British Cabinet minister on the trajectory of India-UK relations.
Read More...


sm_icons_indiainc-fb sm_icons_indiainc-twitter
Array ( [format] => html [Itemid] => 156 [option] => com_k2 [view] => item [task] => 221:icici-raises-funds-for-expansion [id] => 221:icici-raises-funds-for-expansion )