India's ICICI Bank UK to market up to $150 million perpetual notes via Barclays, guidance mid-swaps plus 145-150 bps

By Paul A. Harris

St. Louis, Nov. 30 - ICICI Bank UK plc, a unit of Mumbai, India-based ICICI Bank Ltd., has given guidance on its $150 million maximum offering of perpetual notes of mid-swaps plus 145 to 150 basis points, according to an informed source.

The offering, which is being led by Barclays Capital, could price as early as the New York close of business on Friday.

The notes will be non-callable for 10 years.

On Oct. 17, 2006, ICICI Bank Ltd. placed a $400 million issue of 5 7/8% senior notes due October 2011 (Baa2/BB+/BBB-) at a spread to Treasuries of 120.6 bps.

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