ICICI Bank raises US$ 1.00 billion through international bond offering

ICICI Bank Limited (NYSE:IBN) through its Dubai branch has successfully priced an issuance of 5.5 year fixed rate notes in aggregate principal amount of US$ 1 billion. The offering had an order book of US$ 2.70 billion with strong interest from over 220 investors.

The 5.5 year fixed rate notes carry a coupon of 4.75% and were offered at an issue price of 99.665%, which translates to a spread of approximately 251.5 basis points over equivalent LIBOR.

The stock closed the day at Rs.1030.50, down by Rs.1.90 or 0.18%. The total traded quantity was 2.34 lakhs compared to 2 week average of 3.37 lakhs.

The stock hit an intraday high of Rs.1043 and low of Rs.1026.

Source : Equity Bulls

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