ICICI Joins Indian Banks Chasing Dollar Loans, Swelling Demand

ICICI Bank launched a syndicated offshore loan of about $1.45B, using a central bank facility designed to lower hedging costs. The deal reflects continued international funding activity by Indian banks, which should be modestly supportive for credit/liquidity sentiment, though it is not a market-wide event.

Analysis

ICICI Bank launched a syndicated offshore loan of about $1.45B, using a central bank facility designed to lower hedging costs. The deal reflects continued international funding activity by Indian banks, which should be modestly supportive for credit/liquidity sentiment, though it is not a market-wide event.