ICICI Bank, through its Singapore branch, has raised SG $225 million through issue of Regulation S bonds with a seven-year maturity. The bonds were priced at a coupon rate of 3.65 per cent. The arrangers to the issue were ANZ, HSBC and Standard Chartered Bank. The total demand (order book) was SG $3 billion from 102 accounts.
Earlier, Standard & Poor’s (S&P) Ratings Services assigned the senior unsecured notes issue ‘BBB-’ while Moody’s had assigned ‘Baa2’. The rating on the notes reflects the long-term issuer credit rating on the bank.
