ICICI Bank raises $1 billion from 5-year 5.410% bonds
ICICI Bank has pulled in $1 billion by selling bonds that run for five years, with a fixed interest rate of 5.410%.
These notes are part of a much bigger $7.5 billion fundraising plan and will mature in August 2031.
If you're curious about returns, bondholders get paid interest twice a year, every February and August.
ICICI Bank uses proceeds for operations
The money is going toward general corporate needs, basically helping the bank keep things running smoothly.
The bonds scored a BBB rating from S&P Global Ratings and are proposed to be listed on several global markets, including India's IFSC and Singapore Exchange.
This isn't ICICI's first rodeo: they recently raised $2.05 billion through similar dollar-denominated debt, riding the wave of lower hedging costs thanks to RBI's currency swap facility.