Debt

Debt financing

ICICI Bank to raise $1.45 B loan from Bank of America-led consortium

Economic Times  

Mumbai-based ICICI Bank is looking to raise at least USD 1.45 Billion through a four-year loan from a consortium of lenders led by Bank of America. Other participants in the financing round include CTBC Bank, Mashreq Bank, Mizuho Bank, and United Overseas Bank. Bank of America is serving as the lead bookrunner for the transaction and has already committed approximately USD 1 Billion.The loan is expected to be priced at 110-115 basis points over the secured overnight financing rate.ICICI Bank intends to utilize the proceeds from this financing to support its foreign currency deposit programs and provide leverage to its overseas clientele.

For FY25, ICICI Bank had reported about INR 1,69,946 Cr in Operating Income and about INR 50,146 Cr in PAT.