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ICICI Bank may Raise Up To $5 Billion Through Debt

20 May 2011 Evaluate

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.

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Peers
Company Name CMP
HDFC Bank 719.35
ICICI Bank 1305.50
Axis Bank 1214.00
Kotak Mahindra Bank 419.80
Indusind Bank 880.00
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