ICICI Bank Launches Bonds in Overseas Market

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ICICI Bank has launched the USD 500-million dollar-denominated bond issue in the overseas market.

The bench market issue will be sold through the Dubai International Finance Centre branch of the bank, and the lead-managers have given a price guidance of 1.55 per cent over the US treasury.

The issue is part of ICICI Bank’s USD 7.5 billion global medium-term notes programme.

Since the past two years, debt raising by domestic companies have been on a low gear given the poor investment climate.

Rural Electrification Corporation raised USD 400 million for on-lending under the ECB route, NTPC mopped up USD 531.2 million and Adani Ports & Special Economic Zone raised USD 500 million.

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