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ICICI Bank selling at least 100 mln CHF in 7-yr bonds

Source : REUTERS
Last Updated: Tue, Dec 11, 2012 14:47 hrs
An employee's shadow is cast on the ICICI Bank logo at their headquarters in Mumbai

ICICI Bank, India's biggest private sector lender, is aiming to raise at least 100 million Swiss francs via a 7-year bond sale, a source close to the deal said on Tuesday.

ICICI has set guidance at 228 basis points over midswaps, with a fixed coupon of 2.75 percent, the source added. The issuance is rated 'Baa2' by Moody's and 'BBB' by S&P.

Deutsche Bank is the sole arranger of the deal, the source also said, and the book will remain open until the end of the day.

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