ICICI Bank raises $750-mn through bond issue

India's second largest lender, ICICI Bank on Saturday said it has raised $750-million through the issue of five-year bonds at its Bahrain branch.

India's second largest lender, ICICI Bank on Saturday said it has raised $750-million through the issue of five-year bonds at its Bahrain branch.

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The issue, which had an order book of over $3-billion, was participated by over 250 investors, the bank said in a press release issued in Mumbai.

"The 5.33 year fixed rate notes carry a coupon of 5.5 per cent, which translates to 292.6 basis points spread over equivalent Libor," the bank said.

Last month, country's largest lender, State Bank of India raised $750-million through the issue of five year bonds abroad.