ICICI Bank raises US$750 million through International Bond offering

ICICI Bank (NYSE:IBN), acting through its Bahrain branch successfully priced a 5.33 year fixed rate note of US$ 750 million. The offering had an order book of over US$3 billion with strong interest from over 250 investors. The notes were sold under the Rule 144A/Reg S format.

The 5.33 year fixed rate notes carry a coupon of 5.5%, which translates to 292.6 bps spread over equivalent LIBOR.

The stock closed the day at Rs.897.30, up by Rs.11.75 or 1.33%. The stock hit an intraday high of Rs.900 and low of Rs.859.

The total traded quantity was 1045238 compared to 2 week average of 848180.

Source : Equity Bulls

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