ICICI signs syndication loan pact in Geneva

New Delhi, Dec 21: ICICI Bank Ltd today said it has signed a one billion dollar syndication loan agreement in Geneva.

The loan facility is split into three tranches -- 350 million dollar 364-day tranche (tranche A), a 450 million dollar two-year tranche (tranche B) and 200 million dollar three-year tranche (tranche C).

The bank said that 26 banks participated in the syndication facility, which was concluded in a period of one month.

''The one billion dollar syndication is a benchmark deal as this facility marks the largest syndicated loan for an Indian bank borrower. We are delighted with the widespread interest this deal has generated from the leading banks across the globe. It is heartening to see a number of new players participating in this deal,'' ICICI Deputy Managing Director Chanda Kochhar said.

Banca Intesa S P A , The Bank of Tokyo-Mitsubishi UFJ Ltd, BayernLB, BNP Paribas, Calyon, Chinatrust Commercial Bank Ltd, Fortis Bank, The Hongkong and Shanghai Banking Corporation Ltd, Lloyds TSB Bank PLC, Mizuho Corporate Bank Ltd, Natixis, The Royal Bank of Scotland PLC, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation are the 14 mandated lead arrangers for the syndication.

UNI