ICICI Bank Ltd.

Country's top private lender, ICICI Bank is mulling to raise up to $1 billion through a 10-year overseas bond issue as early as this month in light of on improved global liquidity. The bank for the management of overseas issue, hired Citigroup, Bank of America Merrill Lynch, HSBC and Standard Chartered. However, private sector lender’s planned bond launch and pricing would depend on market conditions.

The bank continuously keeps exploring various avenues of fund raising in form of public bond issuances and private placements under the Global Medium Term Notes Programme (GMTN), based on market conditions and pricing apart from loans and money markets.

ICICI Bank last month raised $160 million through a one-year floating rate notes at 200 basis points over three-month Libor. Earlier this month, also state-run Indian Overseas Bank roped seven banks to raise $500 million through bonds from the overseas markets.