What was priced
ICICI Bank Limited told the exchanges that, acting through its IFSC Banking Unit, it priced a USD 1 billion issue of senior unsecured fixed rate notes on August 24, 2026. The issuance is a drawdown under the bank's existing USD 7.5 billion Global Medium Term Note Programme, structured as a RegS, Category 2 offering and explicitly not for distribution in the United States. The notes carry a five-year tenure, with allotment on August 27, 2026 and maturity on August 27, 2031.
Terms and use of proceeds
The notes are unsecured, with interest payable semi-annually on 27 February and 27 August each year through maturity. 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 Global Securities Market of India International Exchange (IFSC), the Debt Securities Market of NSE IFSC, and the Singapore Exchange (SGX-ST).
Ratings
Per the filing, Moody's Ratings and S&P Global Ratings assigned the notes 'Baa3' and 'BBB' respectively, via letters dated August 24, 2026 — both investment-grade rungs. The filing reported no delay or default in payment of interest or principal.