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ICICI Bank takes SBI route, raises USD 750 m abroad Email this page
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Mumbai, Nov 21 (PTI) The country's largest private bank ICICI Bank today said it has mopped up USD 750 million through a five-year bond issue at its Bahrain branch.
The issue had an order book of over USD 3 billion and was participated by over 250 investors, an ICICI Bank press release said here. The notes were sold under the Rule 144A/Reg S format.

This comes on heels of the country's largest lender State Bank of India mopping up a similar amount abroad last month.

The bonds, which have a maturity of 5.33 years, carry a coupon rate of 5.5 per cent, which translates to 292.6 basis points spread over equivalent Libor, the bank said.

Despite a fall in the total income, ICICI Bank had reported a 2.5 per cent rise in its net profit for the second quarter ended September 30 at Rs 1,040.13 crore, against Rs 1,014.

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