ICICI Bank Raises $2 Billion in Dollar Debt in One Month
· Business · Economic Times, Yahoo Finance
ICICI Bank has secured $750 million through a new five-year U.S. dollar bond issuance, marking its third successful offshore fundraising in a single month. This latest deal brings the private lender's total dollar debt raised since early June to $2.05 billion. The bonds were priced at a spread of 105 basis points over U.S. Treasuries, which is tighter than the initial guidance of 130 basis points. The bank plans to use these funds for general corporate purposes, while also reportedly negotiating a $1.45 billion dollar loan with foreign lenders.
Why it matters
The surge in offshore fundraising by Indian lenders follows the RBI's introduction of a concessional swap window, which has helped banks lower costs and improve rupee liquidity to support domestic lending.
Read the original report — Economic Times
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