* Issue to be benchmark sized
* Initial price guidance is for yield of 5.1 pct (Updates with details of issue)
MUMBAI, Sept 14 (Reuters) - ICICI Bank plans to sell benchmark-sized three-year yuan-denominated bonds, a source close to the deal said on Friday, in what would be the second dim sum bond sale from an Indian issuer this year.
Benchmark sizes are usually considered to be around 500 million CNH, or offshore yuan.
The lender, acting through its Singapore unit, is looking to sell the bonds with an initial price guidance for yield around 5.1 percent, said the source.
HSBC and Standard Chartered Bank are the lead managers of the sale.
Moody's Investors Service has given a "Baa2" rating to the bonds, which are expected to be listed on the Singapore Exchange.
A unit of IL&FS Transportation Networks Ltd raised funds via dim sum bonds earlier this year after IDBI Bank sold yuan bonds last year. [ID: nL3E8FD32G]
India last year added the Chinese yuan as one of the currencies that Indian issuers can tap in overseas markets, which already include the U.S. dollar, Japanese yen, euro and the pound sterling.
India has set a $1 billion limit for yuan borrowings, as part of the $30 billion overseas borrowing limit for issuers. (Reporting by Archana Narayanan; Editing by Muralikumar Anantharaman)