ICICI Bank is planning its first benchmark dollar-denominated bond sale since 2017. The lender aims to raise a minimum of $500 million in international markets.
The move follows a Reserve Bank of India (RBI) policy shift providing foreign exchange swap benefits. These incentives make overseas borrowing more cost-effective for Indian financial institutions.
ICICI Bank is currently discussing the offering structure with global financial institutions. The bond sale could launch within the coming weeks.
This capital raise aligns with RBI efforts to increase foreign currency supply and stabilize the Indian rupee.