ICICI Bank mops up USD 2 bn from bond sale

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Mumbai, Sep 27 (UNI) ICICI Bank, India's largest private lender, has raised a fund of USD 2 billion from the issue of a five-year fixed rate note in US, Asia and Europe.

In a statement issued here today, the Bank said that nearly 43 per cent of the bonds have been sold in US while Asia and Europe contributed for about 37 per cent and 16 per cent respectively.

This has come as part of the massive capital raising exercise of the Bank to meet its business expansions in domestic and overseas markets.

Earlier, ICICI Bank had mopped up nearly USD 5 billion through share sale in India and US and another USD 1.5 billion through overseas loans.

In the bond issue, nearly 32 per cent of the notes were sold to banks, 53 per cent to fund managers and 15 per cent to the pension funds and retail participants, the statement said.

The offering, which had a USD 6.05 billion order book with strong interest from over 250 investors, was done through the Bank's Bahrain branch, it added.

Deutsche Bank AG, Goldman Sachs International and Merrill Lynch International were the lead arrangers of the issue.

ICICI Bank has assets worth Rs 3,569.32 billion as on June 30, 2007 and has a network of over 950 branches and extension counters.

The bank also operates 3,580 ATMs.


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