India's ICICI to sell $300 mln bond this wk-sources

HONG KONG, Oct 16 (Reuters) ICICI Bank , India's second-largest lender, is expected to price a 0 million, five-year bond by Wednesday at about 75 basis points over mid-swaps, market sources said on Monday.

It will be the second visit to the offshore debt market this year by ICICI, whose loan book is growing strongly. A source said the offer, assigned a BB-plus rating by Standard&Poor's, had been 1.5 times subscribed.

The bank's chief financial officer, Vishakha Mulye, told Reuters on Sept. 19 that ICICI could raise more funds from the debt market in coming months as it expected faster growth in retail and corporate loans.

The bank's loans grew by 50 percent from a year earlier to 1.47 trillion rupees ( billion) in the quarter ended in June, with the international portfolio expanding 92 percent to 133 billion rupees.

In August, the Indian lender raised 0 million in perpetual, hybrid, tier I securities. The deal was more than 10 times subscribed as investors saw the deal as a way to tap into India's growth.

India's economy in the April-June quarter grew 8.9 percent from a year earlier.

Deutsche Bank and Merrill Lynch are joint bookrunners for the latest deal.

The bank's shares were trading 3.42 percent higher on the day around 0933 GMT, while the main Bombay index <.bsesn> was up 1.61 percent.

REUTERS SBA HT1652