ICICI Bank Limited has successfully priced USD 300 million of Senior Unsecured Fixed Rate Notes through its IFSC Banking Unit under its USD 7.5 billion Global Medium Term Note (GMTN) Programme, strengthening its international funding profile.
The bank disclosed the development to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Details of the Bond Issue
The issuance comprises USD-denominated Senior Unsecured Fixed Rate Notes through a RegS drawdown under ICICI Bank’s existing USD 7.5 billion GMTN Programme.
| Particular | Details |
|---|---|
| Issuer | ICICI Bank Limited (through IFSC Banking Unit) |
| Issue Size | USD 300 million |
| Instrument | Senior Unsecured Fixed Rate Notes |
| Programme | USD 7.5 billion Global Medium Term Note (GMTN) Programme |
| Tenure | 5 years |
| Allotment Date | August 13, 2026 |
| Maturity Date | August 13, 2031 |
| Coupon Rate | 5.352% per annum |
| Interest Payment | Semi-annually (February 13 & August 13) |
| Security | Unsecured |
Listing Details
The notes are proposed to be listed on:
- Global Securities Market of India International Exchange (India INX IFSC)
- Debt Securities Market of NSE IFSC Limited
Listing on IFSC exchanges is expected to provide international investors with access to ICICI Bank’s debt securities while enhancing liquidity.
Utilisation of Funds
According to the bank, the net proceeds from the issue will be used for general corporate purposes, in line with applicable regulatory guidelines.
The issuance forms part of ICICI Bank’s strategy to diversify its funding sources and strengthen access to international debt markets.
Other Highlights
- The notes are senior unsecured obligations of the bank.
- No security or charge has been created over assets.
- There have been no defaults or delays in payment of principal or interest.
- Redemption will take place on the maturity date, August 13, 2031.
Strategic Significance
The successful pricing of the USD 300 million notes demonstrates continued investor confidence in ICICI Bank’s credit profile and provides the bank with long-term foreign currency funding. Such issuances help diversify the bank’s liability mix and support future lending and corporate financing requirements.
Key Highlights
- Issuer: ICICI Bank Limited (IFSC Banking Unit)
- Issue Size: USD 300 million
- Programme: USD 7.5 billion GMTN Programme
- Instrument: Senior Unsecured Fixed Rate Notes
- Coupon: 5.352%
- Tenure: 5 years
- Allotment: August 13, 2026
- Maturity: August 13, 2031
- Use of Funds: General corporate purposes
- Proposed Listing: India INX IFSC & NSE IFSC Debt Market
