ICICI Bank raises $1 billion from overseas market
Saturday, 21 May 2011
NEW DELHI, May 20 (PTI): ICICI Bank today said it has raised USD one billion (about Rs 45.0 billion) through bonds from overseas market.
The 5.5 year fixed rate note carry a coupon of 4.75 per cent, ICICI Bank said in a statement.
These notes were issued through the bank's Dubai branch, it said.
The proceeds from the issue will be used to fund the bank's international operations and for general corporate purposes.
The offering had an order book of USD 2.70 billion with strong interest from over 220 investors, it said.
The bonds were issued under existing USD 5 billion medium-term notes programme.