India's ICICI Bank has provided an initial price guidance for a five-year dollar bond leveraging the central bank's lower-cost hedging facility, as the private lender returns to the dollar debt market after nearly nine years, two bankers aware of the matter said on Thursday.
The lender is expected to raise at least $500 million through this issue and has provided guidance of a spread of 130 basis points over the corresponding U.S. Treasury yield, the bankers added, requesting anonymity as they are not authorised to speak to the media.
