ICICI Bank, Axis Bank tap dollar debt again in less than two months: Report
ICICI Bank and Axis Bank are each raising $300 million through U.S. dollar-denominated debt placements, marking their second issuance in less than two months. ICICI Bank will issue five-year bonds with a coupon of 5.3520%, while Axis Bank will reissue its June 2031 bonds at a coupon of 5.3480%, increasing its total issuance to $600 million. Both placements are set to close for subscription next week and will be privately placed, utilizing the Reserve Bank of India's hedging facility to lower borrowing costs.