ICICI bank raises $ 750 mn from 5-yr bonds

ICICI bank raises $ 750 mn from 5-yr bonds

Mumbai: ICICI bank said on Saturday it has raised $750-million (around Rs3,465 crore) by issuing five-year bonds at its Bahrain branch.

The issue, which had an order book of over $3-billion, was participated by over 250 investors, the country’s second largest lender said in a press release here.

“The 5.33-year fixed rate notes carry a coupon of 5.5%, which translates to 292.6 basis points spread over equivalent Libor," the bank said.

Last month, the country’s largest lender State Bank of India raised $750-million through the issue of five-year bonds abroad.

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