BASIS POINT-Seven to seal US$275m ICICI club

Last Updated: Fri, Aug 10, 2012 08:50 hrs

HONG KONG, Aug 10 (Basis Point) - Seven banks are in the process of signing a US$275m three-year term loan for ICICI Bank, according to sources.

The banks are ANZ, Bank of America Merrill Lynch, Bank of Bahrain & Kuwait, Bank of Tokyo-Mitsubishi UFJ, Mega International Commercial Bank, National Bank of Abu Dhabi and Standard Chartered Bank.

Four banks are coming in with US$50m, while the remaining three are each committing US$25m, a source said.

As previously reported, the self-arranged bullet loan offers an all-in of 295bp via a fee of 120bp and a margin of 255bp over Libor.

Signing is taking place via circulation. (Reporting by Maggie Chen; Editing by Gavin Stafford)

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