ICICI Bank raises $1 bn from overseas market via bonds

ICICI Bank today said it has raised $one billion (about Rs 4,500 crore) through bonds from overseas market.

The 5.5 year fixed rate note carry a coupon of 4.75%, ICICI Bank said in a statement.

These notes were issued through the bank's Dubai branch, it said.

The proceeds from the issue will be used to fund the bank's international operations and for general corporate purposes.

The offering had an order book of $2.70 billion with strong interest from over 220 investors, it said. The bonds were issued under existing $5 billion medium-term notes programme.