Business   

ICICI Bank raises 350 million pounds

MUMBAI: ICICI Bank has raised 350 million pound sterling through its Medium Term Note (MTN) Programme for this fiscal.

The notes were priced at a spread of 83 basis points over U.K. gilts and is the largest deal in the sterling market from Asia, the bank said in a release on the Bombay Stock Exchange. The notes will settle on May 18.

Acting through its Bahrain branch, ICICI's Floating Rate Note generated good investor response resulting in the deal being upsized to 350 million pound sterling.

From a geographical breakdown perspective there was 95 per cent participation from the U.K. and the balance from rest of Europe.

From an investor perspective, 80 per cent of the securities were sold to fund managers, 17 per cent to insurance agencies and 3 per cent to banks and pension funds.

PTI

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

SBI eyes new areas of business
MRPL turns around in Q4
Textile industry plea on TUF
Abolition of import duty on printing paper sought
Eveready plans to enter new product segments
Klockner to set up manufacturing facility
ICICI Bank raises 350 million pounds
TBWA wins agency of year award
Plea to desist from futures trade in natural rubber
Oushadhi urged to launch new products
Sobha Developers plans township in Thrissur

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu