ICICI Bank plans to raise $300 million through issuance of Eurobonds in the international markets as the first tranche of its $1 billion medium term notes programme.
The bank, acting through its Singapore branch, proposes to issue unsecured, unsubordinated, fixed rate Eurobonds with a tenor of five years, banking sources said in Mumbai on Wednesday.
The pricing would be determined by way of book building and the bond would be listed on the Luxembourg Stock Exchange, they said.
ICICI Bank has appointed Deutsche Bank, ABN AMRO and Bank of America as the bookrunners or lead managers and arrangers to the issue, sources added.
India's second largest bank plans to raise $1 billion through issuance of MTNs for funding the growth of its overseas operations.
ICICI Bank, had last month, said the entire proceeds would be used in meeting the bank's liabilities for its overseas operations, which include the offshore banking unit in Singapore.
The bank has subsidiaries in Canada and UK. It also has offshore banking units in Singapore and SEEPZ (Mumbai) and representative offices in Dubai, Shanghai and New York.
It had raised around $300 million through Eurobonds in October last. The bank had also raised Rs 3,050 crore (Rs 30.5 billion) via a domestic equity issue in April 2004.
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