ICICI Bank is planning to raise up to $5 billion through issue of medium-term notes. Standard & Poor’s Ratings Services assigned a ‘BBB-’ rating to the issue of senior unsecured notes by ICICI Bank.
The notes will have a tenure of 5.5 years and will be issued through the bank’s Dubai branch. The proceeds from the issue will be used to fund the bank’s international operations and for general corporate purposes, subject to regulatory approval.
