ICICI Bank Launches $1.45B Offshore Syndicated Loan
ICICI Bank has launched a syndicated offshore loan of about $1.45 billion, tapping banks including Mizuho Bank, Mashreqbank and United Overseas Bank. The deal follows its $1 billion five-year bond sale and uses an RBI concessional FX swap facility to cut hedging costs. The bank also posted better-than-forecast profit on strong loan growth.