The bond has a fixed coupon of 2.75% and has been rated Baa2 by Moodys and BBB- by Standard & Poors, the source said.
Deutsche Bank is the sole bookrunner for the issue expected to close at the end of Tuesday. This is also the first Swiss Francs denominated bond issue by an Indian company in FY2013.
ICICI Bank has been raising funds under its $5 billion Global Medium Term Note program. On November 26, ICICI raised additional $250 million U.S. dollar-denominated bond and the price was fixed at 340 basis points above 10-years U.S. treasury.
The bond issued was in addition to the Mumbai-based private sector bank's $750 million issuance in August.