ICICI Bank Limited has successfully priced USD 1 billion in Senior Unsecured Fixed Rate Notes under its Global Medium Term Note Programme. The issuance, priced on August 24, 2026, attracted ratings of ‘Baa3’ from Moody’s and ‘BBB’ from S&P. The net proceeds from this offering will be utilized for the bank’s general corporate purposes, reinforcing its capital base and supporting future growth initiatives.
ICICI Bank Prices Major Debt Offering
ICICI Bank Limited, through its IFSC Banking Unit, announced today, August 24, 2026, the successful pricing of USD 1 billion Senior Unsecured Fixed Rate Notes. These Notes are issued under the Bank’s existing USD 7.5 billion Global Medium Term Note Programme. The issuance underscores ICICI Bank’s continued access to international debt capital markets.
Credit Ratings and Use of Proceeds
The Notes have received favourable ratings from leading credit rating agencies. Moody’s assigned an initial rating of ‘Baa3’, while S&P Global Ratings provided a rating of ‘BBB’. The net proceeds derived from the issuance of these Notes will be allocated towards the Bank’s general corporate purposes, aligning with relevant regulatory guidelines and supporting its ongoing business operations and strategic objectives.
Key Note Details
The Senior Unsecured Fixed Rate Notes carry a coupon of 5.410% and are set to mature on August 27, 2031, representing a tenure of 5 years from the allotment date of August 27, 2026. Interest payments are scheduled semi-annually, on February 27 and August 27 each year. These Notes are intended 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 SGX-ST.
Note: This announcement is not an offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
Source: BSE
