India's Icici agrees to $1 billion equivalent yen loan

By Jennifer Chiou

New York, Dec. 21 - India's Icici Bank Ltd. announced it signed an agreement for a yen-denominated $1 billion equivalent syndicated loan, which is split into three tranches, a $350 million 364-day tranche A, a $450 million two-year tranche B and a $200 million three-year tranche C.

A total of 26 banks participated in the syndication - the widest participation for any Indian bank syndication in the international markets, according to a company news release.

The 14 lead arrangers included Banca Intesa SPA, The Bank of Tokyo-Mitsubishi UFJ, Ltd., BayernLB, BNP Paribas, Calyon, Chinatrust Commercial Bank Ltd., Fortis Bank SA/NV, The Hongkong and Shanghai Banking Corp. Ltd., Lloyds TSB Bank plc, Mizuho Corporate Bank Ltd., Natixis, The Royal Bank of Scotland plc, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

Mumbai-based Icici is India's largest private bank.

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