Mumbai : ICICI Bank Limited, one of India’s leading private sector banks, has successfully completed the issuance of USD 1 billion Senior Unsecured Fixed Rate Notes through its International Financial Services Centre (IFSC) Banking Unit. The fundraising marks another significant milestone in the Bank’s global capital market strategy and further strengthens its presence in international debt markets.
The issuance was completed under the Bank’s USD 7.5 billion Global Medium Term Note (GMTN) Programme, enabling ICICI Bank to diversify its funding sources while reinforcing its international financial operations through GIFT City, Gujarat.
Part of USD 7.5 Billion Global Medium Term Note Programme
The newly issued Senior Unsecured Fixed Rate Notes form part of ICICI Bank’s USD 7.5 billion Global Medium Term Note Programme, a framework that allows the Bank to raise funds from international investors through multiple issuances over time.
The successful completion of the USD 1 billion bond issue demonstrates strong investor confidence in ICICI Bank’s financial strength, credit profile, and long-term growth prospects.
The Bank had previously informed the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 24, 2026, regarding its intention to undertake the international bond issuance.
Strong Investment Grade Credit Ratings
The Notes have received investment-grade credit ratings from leading international rating agencies, reflecting the Bank’s robust creditworthiness.
The ratings assigned to the issuance are:
- BBB by S&P Global Ratings
- Baa3 by Moody’s Ratings
These ratings indicate that the bonds carry moderate credit risk and are considered investment-grade instruments, making them attractive to a broad base of global institutional investors.
Listing Across International Financial Markets
To provide liquidity and facilitate global investor participation, the USD 1 billion Notes will be listed on multiple international trading platforms.
The Notes will be listed on:
- Global Securities Market of India International Exchange (India INX) IFSC Limited
- Debt Securities Market of NSE IFSC Limited
- Singapore Exchange Securities Trading Limited (SGX-ST)
The multi-exchange listing is expected to enhance the visibility of the bond issuance among international investors and strengthen ICICI Bank’s access to global capital markets.
Strengthening GIFT City Operations
The successful issuance highlights the growing importance of GIFT City (Gujarat International Finance Tec-City) as India’s premier international financial services hub.
By executing the transaction through its IFSC Banking Unit, ICICI Bank continues to expand its international banking operations from GIFT City while supporting the Government of India’s vision of developing a globally competitive financial centre.
The fundraising also reinforces the role of India International Exchange (India INX) and NSE IFSC as important platforms for international debt listings.
Enhancing Global Funding Strategy
The proceeds from the bond issuance are expected to support ICICI Bank’s broader funding strategy by providing access to diversified sources of international capital.
Issuing bonds in overseas markets enables banks to:
- Diversify funding sources
- Strengthen capital market presence
- Expand relationships with global institutional investors
- Support international banking operations
- Enhance long-term financial flexibility
The successful completion of the transaction reflects continued global investor confidence in India’s banking sector and the financial stability of leading Indian institutions.
A Milestone in International Capital Raising
The USD 1 billion bond issue represents another important achievement for ICICI Bank as it continues to strengthen its global financial footprint.
The transaction demonstrates the Bank’s ability to efficiently access international debt markets while leveraging India’s evolving financial infrastructure through GIFT City and the International Financial Services Centre (IFSC).
With strong credit ratings, diversified listing venues, and an established global note programme, the Bank remains well-positioned to meet future funding requirements and support its domestic as well as international business expansion.
Key Highlights
- ICICI Bank Limited has successfully completed the issuance of USD 1 billion Senior Unsecured Fixed Rate Notes through its IFSC Banking Unit.
- The issuance forms part of the Bank’s USD 7.5 billion Global Medium Term Note (GMTN) Programme.
- The Notes have received investment-grade ratings of:
- BBB from S&P Global Ratings
- Baa3 from Moody’s Ratings
- The bonds will be listed on:
- Global Securities Market of India International Exchange (India INX) IFSC Limited
- Debt Securities Market of NSE IFSC Limited
- Singapore Exchange Securities Trading Limited (SGX-ST)
- The Bank had earlier informed the stock exchanges about the proposed issuance on July 24, 2026.
- The fundraising strengthens ICICI Bank’s international debt market presence and reinforces its operations through GIFT City.
- The successful issue reflects strong investor confidence in the Bank’s financial strength and long-term growth strategy.
Source: Official regulatory filing submitted by ICICI Bank Limited to the BSE and NSE on July 30, 2026, regarding the successful completion of its USD 1 billion Senior Unsecured Fixed Rate Notes issuance.
