(14 May 2007 – India) ICICI Bank has successfully tapped the UK bonds market, raising ₤350 million in sterling denominated bonds.ICICI, which is India’s second biggest bank, has raised the bonds at a price of 83 basis points above UK government bonds.
The Indian bank said it raised the three year, fixed rate bonds through its Bahrain branch, with the offering managed by BNP Paribas, Deutsche Bank, Citigroup and HSBC.
ICICI has also engaged Goldman Sachs and Merrill Lynch to raise US$5 billion in a new share sale next month.