ICICI Bank Limited has announced the successful pricing of USD 1 billion in Senior Unsecured Fixed Rate Notes. Issued under its Global Medium Term Note Programme, these notes carry a coupon of 5.410% and mature on August 27, 2031. The issuance received strong ratings from Moody’s (‘Baa3’) and S&P (‘BBB’), reflecting investor confidence in the bank’s financial standing. The proceeds will be used for general corporate purposes.
ICICI Bank Prices $1 Billion Senior Unsecured Notes
ICICI Bank Limited, through its IFSC Banking Unit, announced today, August 24, 2026, the successful pricing of USD 1 billion in Senior Unsecured Fixed Rate Notes. These notes are a drawdown under the Bank’s existing USD 7.5 billion Global Medium Term Note Programme.
Key Details of the Issuance
The Notes are priced with a coupon rate of 5.410% per annum. They are set to mature on August 27, 2031, indicating a tenure of 5 years from the allotment date of August 27, 2026. Interest payments are scheduled for February 27 and August 27 of each year.
Ratings and Use of Proceeds
The issuance has garnered positive ratings from major credit rating agencies: Moody’s assigned a rating of ‘Baa3’, while S&P Global Ratings assigned a ‘BBB’ rating to the Notes. The net proceeds from this issuance will be utilized by ICICI Bank for its general corporate purposes, aligning with relevant regulatory guidelines.
Listing Information
The Notes are proposed to be listed on the Global Securities Market of the India International Exchange IFSC Limited, the Debt Securities Market of the NSE IFSC Limited, and the SGX-ST. This multi-exchange listing aims to enhance liquidity and accessibility for international investors.
Source: BSE
