What was filed
ICICI Bank told the exchanges that, acting through its IFSC Banking Unit, it priced a tranche of USD-denominated senior unsecured fixed-rate notes. The issue is a RegS drawdown under the bank's existing USD 7.5 billion Global Medium Term Note Programme, per the filing. The notes are unsecured, with no special rights or privileges attached.
Terms of the issue
The notes carry a three-year tenure, with allotment on September 3, 2026 and maturity on September 3, 2029, per the filing. Interest is payable half-yearly, on 3 March and 3 September each year up to maturity, with redemption on the maturity date. The bank said net proceeds will be used for general corporate purposes in accordance with relevant regulatory guidelines. The notes are proposed to be listed on the India International Exchange (IFSC), NSE IFSC and SGX-ST.
Why it matters to a holder
This is a routine funding action under an established programme rather than a change to the bank's business. It adds USD-denominated senior unsecured wholesale funding at a fixed cost, sourced through the bank's Gujarat IFSC unit. The filing reports no delay or default in payment on the security.