ICICI Bank successfully raised one billion dollars through its inaugural dollar bond sale. This strong investor demand allowed the bank to double its initial offering size. The successful transaction signals confidence in Indian bank credit from global investors. Other lenders are now preparing to raise dollar bonds using a subsidized hedging facility. This initiative aims to lower borrowing costs and support capital inflows into India.

The lender is expected to raise at least $500 million through this issue and has provided guidance of a spread of 130 basis points over the corresponding US Treasury yield

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…