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ICICI Bank to raise 750 million Chinese Yuan by issuing Reg S bonds: Report

18 Jun 2013 Evaluate

ICICI Bank, the country’s private sector lender is reportedly planning to raise up to 750 million Chinese Yuan (Renminbi) by issuing 3-year Regulation S (Reg S) bonds. The initial pricing guidance given by issue arrangers is at 4.125%. The bonds are a part of the bank's $5 billion Medium Term Notes (MTN) programme.

Reg S bonds are offered to non-US residents and qualified institutional buyers under an exception to US securities laws enacted in 1990 and do not enjoy the same legal protection as other issues.

ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $122 billion at December 31, 2012. The Bank’s presence currently spans 19 countries, including India.

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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