ICICI Bank's $1 billion dollar bond sale via GIFT City, which drew strong global investor demand and secured lower borrowing costs, is expected to spur more Indian lenders to tap overseas debt markets under the RBI's subsidised hedging facility.

ICICI Bank is returning to dollar debt markets after nine years. The lender seeks to raise at least $500 million through a five-year bond. This issuance leverages the central…

Largest such issue by an Indian lender in nearly 14 years; attracts $3 billion in bids