ICICI Bank successfully issued a five-year dollar bond worth $1 billion, achieving a notably tighter spread. This offering stands as the largest for an Indian bank in almost fourteen years. With a coupon set at 100 basis points above U.S. Treasuries, it surpassed initial expectations. The offering utilized the central bank’s cost-effective hedging facility for international fundraising and drew $3 billion in bids against a base of $500 million.