ICICI Bank prices $1 billion debt at tighter spread
ICICI Bank has priced a $1 billion five-year dollar bond at a much tighter spread than initially indicated, in the largest such issue by an Indian lender in nearly 14 years, three bankers said.The bank set the coupon at 100 basis points over U.S. Treasuries, sharply lower than the initial guidance of 130 basis points, for its first dollar debt sale in nearly nine years. In the secondary market, it was traded at a spread of 94 bps.Another private sector peer Axis Bank had raised an aggregate of $800 million through a dual-tranche dollar bond issue in June.The proceeds from ICICI Bank’s issue will be used for general corporate purposes.
- ▪ICICI Bank has priced a $1 billion five-year dollar bond at a much tighter spread than initially indicated, in the largest such issue by an Indian lender in nearly 14 years, three bankers said.The bank set the coupon at 100 basis points
- ▪Treasuries, sharply lower than the initial guidance of 130 basis points, for its first dollar debt sale in nearly nine years.
- ▪In the secondary market, it was traded at a spread of 94 bps.Another private sector peer Axis Bank had raised an aggregate of $800 million through a dual-tranche dollar bond issue in June.The proceeds from ICICI Bank’s issue will be used
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| Publication time | Fri, 24 Jul 2026 21:04:50 +0530 |
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ICICI Bank has priced a $1 billion five-year dollar bond at a much tighter spread than initially indicated, in the largest such issue by an Indian lender in nearly 14 years, three bankers said.The bank set the coupon at 100 basis points over U.S. Treasuries, sharply lower than the initial guidance of 130 basis points, for its first dollar debt sale in nearly nine years. The coupon works out to be 5.46%.The offering attracted $3 billion in bids against a base issue size of $500 million, the bankers said, speaking on condition of anonymity because they were not authorised to speak to the media.ICICI Bank did not immediately respond to a Reuters request for comment.The deal is the largest dollar bond sale by an Indian private-sector bank, and the second biggest by any local lender…
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