ICICI Bank's US$ 250.0 million Reg S only re-opening of existing 4.70% senior unsecured notes due 2018

ICICI Bank, acting through its Dubai branch, successfully launched and priced a US$ 250.0 million tap of its US$ 750.0 million 4.70% 2018 notes originally issued in August 2012. The securities referred to in this announcement were offered only to non-U.S. persons outside the United States under Regulation S of the Securities Act and will be listed on the Singapore Stock Exchange. The notes are fungible with the existing Reg S/144A tranche after the expiration of a 40-day distribution compliance period, taking the total aggregate nominal amount issued under the series to US$ 1.00 billion.

The offering was oversubscribed by 5.6 times and had an order book of US$ 1.4 billion.

The notes were offered at an issue price of 102.953%, which is a spread of 318 basis points over equivalent LIBOR.

The ICICI Bank Ltd stock was trading at Rs.1028.05, up by Rs.9.50 or 0.93%. The stock hit an intraday high of Rs.1037 and low of Rs.1026.

The total traded quantity was 3.74 lakhs compared to 2 week average of 2.79 lakhs.

Source : Equity Bulls

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