ICICI Bank raises $750 million, total dollar borrowing $2.05B
ICICI Bank pulled in another $750 million by selling U.S.-dollar bonds, marking its third big fundraising move in just a month.
With this latest round, the bank's total US dollar borrowing since early June has hit a hefty $2.05 billion.
The new bonds have a five-year term and pay investors 5.4170% interest.
ICICI Bank $1.45B loan talks
This bond sale received more than $2 billion in bids, so investor demand was strong. ICICI says the money will go toward general business needs.
The rush for these bonds follows the RBI's concessional swap window for foreign-currency deposits, announced in early June, which seems to be working:
ICICI is also reportedly talking with overseas lenders about a fresh $1.45 billion loan, keeping it ahead of other Indian banks when it comes to raising money abroad.