ICICI Bank raises USD750 mn through bond issue

India's second largest lender, ICICI Bank today said it has raised USD750 million through the issue of five-year bonds at its Bahrain branch.

The issue, which had an order book of over USD3 billion, was participated by over 250 investors, the bank said in a press release issued here.

"The 5.33-year fixed rate notes carry a coupon of 5.5%, which translates to 292.6 basis points spread over equivalent Libor," the bank said.

Last month, country's largest lender, State Bank of India raised USD750 million through the issue of five-year bonds abroad.