ICICI Bank

ICICI Bank Ltd has announced that the Bank, acting through its Bahrain branch successfully priced a benchmark 5 year fixed rate note of US$2 billion. The offering had a US$ 6.05 billion order book with strong interest from over 250 investors.

From a geographical breakdown perspective there was very widespread participation. 43% of the notes were sold into the US, 37% into Asia and Europe contributed for about 16%. The notes were sold under the Rule 144A/Reg S format. From an investor breakdown perspective, 53% of the notes were sold to fund managers 32% to banks and 15% to pension funds and retail investors. The offering was lead managed by Deutsche Bank AG, Goldman Sachs International and Merrill Lynch International.

The five-year fixed rate notes carry a coupon of 6.625%.