After successfully raising $80 Mn through 4.9% Yuan bonds, ICICI Bank attracts another round of fund raising through Yuan bonds.

The bank offered $500 Mn Yuan 3 year dim sum bond at re-offered rate of 4.66%, through its Singapore branch with books in excess of 1.9 Bn Yuan from over 70 accounts.

HSBC and Standard Chartered Bank are the arrangers.

Hong Kong and Singapore investors took up 56% and 31% respectively, followed by Taiwan (5%) and Europe (8%).

Fund managers took 71% of the offering, while private banks and public banks accounted for 12% and 11% each.

ICICI Bank is a private sector bank with standalone balance sheet size of R 4,83,494 Cr as on June 30, 2012. It has strong market leadership complemented by its robust domestic franchise of 2,755 branches and 9,366 ATMs as on June 302012. Besides overseas branches, the bank’s international operations also comprise of banking subsidiaries in UK, Canada and Russia.

Recently, the bank raised $750 Mn through issue of 5.5 year fixed rate notes carrying coupon rate of 4.70%.

In the space, Indian Overseas Bank raised $500 Mn through sale of dollar denominated bonds for 5.5 years. SBI raised $1.25 Bn from an overseas dollar-denominated bond sale.

Yes Bank raised $155 Mn and 50 Mn Euros through a dual currency syndicated loan facility for one year.

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