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ICICI Bank to sell dollar bonds

ICICI Bank to sell dollar bonds
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First Published: Thu, May 31 2007. 01 24 PM IST
Updated: Thu, May 31 2007. 01 24 PM IST
Hong Kong: India’s second largest lender ICICI Bank has hired Citigroup, Lehman Brothers and Merrill Lynch to handle a three-year, dollar bond issue, a source close to the deal said on 31 May.
ICICI has been one of the most active offshore bond issuers in non-Japan Asia as Indian banks feed domestic loan growth of 29% amid a deposit growth rate of 20%.
Investor presentations will be held in Singapore on 4 June before moving to Hong Kong on 5 June.
Moody’s Investors Service has rated the bond Baa1 with a stable outlook and the deal will be priced after the roadshows, subject to market conditions.
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First Published: Thu, May 31 2007. 01 24 PM IST
More Topics: Money Matters | Bonds |