Debt Debt financing
ICICI Bank plans $500-M bond issuance
Source ICICI Bank (opens in a new tab)Rediff (opens in a new tab)
Mumbai-based ICICI Bank plans to raise USD 500 million through an overseas bond issuance. The bank is in talks with arrangers for the offering, which is expected to commence following the announcement of the company’s April-June quarter earnings.ICICI Bank intends to use the Reserve Bank of India’s concessional swap window for this transaction to reduce hedging costs associated with foreign currency borrowings.The bank plans to execute this issuance under its Global Medium-Term Note programme. The transaction will represent the bank's first benchmark-sized USD bond issuance since 2017.
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Between Dec 2003 and Aug 2016, ICICI Bank had attracted about $ 1031 M from Temasek, Warburg Pincus.For FY25, ICICI Bank had reported about INR 163,263 Cr in Operating Income and about INR 47,226 Cr in PAT.