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  1. ICICI Bank to raise $80 m via Renminbi bonds

ICICI Bank to raise $80 m via Renminbi bonds

ICICI Bank is likely to raise nearly $80 million through Renminbi-denominated notes...

By: | Mumbai | Published: November 14, 2014 12:19 AM

ICICI Bank is likely to raise nearly $80 million through Renminbi-denominated notes.

Standard Chartered Bank and Mitsubishi UFJ Financial Group will arrange the issue, said a source.

The bank will sell three-year bonds to Asian and European investors through its Bahrain branch and the bonds are expected to be listed on the Hong Kong Stock Exchange. The bank has given a price guidance of 4.2%. This will be the third Chinese currency denominated issue by the bank. These notes are rated BBB- by Standard & Poor’s and baa2 by Moody’s.

Overseas bond issuances by Indian companies and banks have totalled $17 billion so far in 2014, higher than $14.4 billion raised in 2013.

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Tags: ICICI Bank
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