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ICICI Raises $500 mn in Overseas Bond Sale
December 15, 2017
Private sector ICICI Bank recently sold a benchmark bond issue to the overseas investors at a coupon of 3.8%.
In the bond sale, ICICI Bank issued 500 million 10-year US Dollars to the investors through its Dubai branch, a top official of the bank said.
Although the lender gave a price guidance of 170 bps over the US treasury in the initial phase, as the demand increased, the pricing dropped by 20 bps to 150 bps over the US treasury, thus settling the yield at 3.833% to the investors.
