ICICI set for happy future in Aussie

ICICI Correct size
By Nathan Collins
27 Mar 2014

ICICI Bank on Thursday became the first Indian financial to sell Australian dollar debt. The bank easily sold an oversubscribed five year bond and is a good prospect for further deals, said bankers involved.

ANZ and HSBC priced the A$150m ($138m) 6.125% five year bonds at 245bp over mid-swaps, tight of guidance of 250bp area. 

The leads received around A$350m of orders for the deal, but the issuer capped the size of the trade. 

The cost of funding was around 20bp inside of where ...

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