December 11, 2012 / 9:06 AM / 5 years ago

India's ICICI Bank selling at least 100 mln CHF in 7-yr bonds

MUMBAI, Dec 11 (Reuters) - ICICI Bank, India’s biggest private sector lender, is aiming to raise at least 100 million Swiss francs via a 7-year bond sale, a source close to the deal said on Tuesday.

ICICI has set guidance at 228 basis points over midswaps, with a fixed coupon of 2.75 percent, the source added. The issuance is rated ‘Baa2’ by Moody’s and ‘BBB’ by S&P.

Deutsche Bank is the sole arranger of the deal, the source also said, and the book will remain open until the end of the day. (Reporting by Archana Narayanan; Editing by Rafael Nam)

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