India's ICICI Bank $300 million five-year notes talked at T+165 to 175 basis points

By Reshmi Basu

New York, Aug. 11 - ICICI Bank Ltd. has set price guidance for its planned offering of $300 million five-year fixed-rate senior unsecured notes (Baa3/BB) at Treasuries plus 165 to 175 basis points, according to a market source.

The amount of the proposed issuance will not increase.

The issue is expected to price no later than Aug. 16.

ABN Amro, Bank of America and Deutsche Bank are running the Regulation S deal.

Proceeds from the issue will be used by the Singapore branch of ICICI Bank, which is headquartered in Mumbai and is India's second largest commercial bank.

The issue will be listed on the Luxembourg Stock Exchange.

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