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26 December 2006

ICICI Bank's US$1 billion Syndicated Loan Facility 12/22/2006
ICICI Bank Ltd has announced that the Bank has signed an US$ 1 billion yen-equivalent syndication loan agreement in Geneva on December 20, 2006. The facility is split into three tranches: US$ 350 million 364-day tranche (tranche A), an US$ 450 million two-year tranche (tranche B) and an US$ 200 million three-year tranche (tranche C).
There has been strong investor interest in the syndication. A total of 26 banks participated in the syndication facility - the widest participation for any Indian Bank syndication in the international markets. The Bank concluded this transaction in a record time of one month from the date the mandate was awarded.

Ms. Chanda Kochhar, Deputy Managing Director, of the Bank said, "The US$ 1 billion syndication is a benchmark deal as this facility marks the largest syndicated loan for an Indian bank borrower. We are delighted with the widespread interest this deal has generated from the leading banks across the globe. It is heartening to see a number of new players participating in this deal."

Banca Intesa S.P.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., BayernLB, BNP Paribas, Calyon, Chinatrust Commercial Bank Ltd, Fortis Bank S.A. / N.V., The Hongkong and Shanghai Banking Corporation Ltd, Lloyds TSB Bank PLC, Mizuho Corporate Bank Ltd, Natixis, The Royal Bank of Scotland PLC, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation are the 14 Mandated Lead Arrangers for the syndication.

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by erectusplus at 09:23:00 |