ICICI Bank USD 1 billion notes were priced on August 24, 2026, at 10:45 a.m. IST, the private-sector lender said in a BSE filing. The senior unsecured fixed-rate notes are being issued through the bank’s IFSC Banking Unit under its USD 7.5 billion Global Medium Term Note Programme.

The notes carry a 5.410% coupon and have a tenure of five years. The proposed allotment date is August 27, 2026, while maturity is scheduled for August 27, 2031.

Ratings and payment schedule

Moody’s Ratings and S&P Global Ratings assigned the notes Baa3 and BBB ratings, respectively, through letters dated August 24, 2026. The filing described the securities as US dollar-denominated, senior unsecured fixed-rate notes issued as a RegS registered, Category 2 drawdown.

  • Issue size: USD 1 billion
  • Tenure: Five years
  • Coupon: 5.410%
  • Interest payment dates: February 27 and August 27 each year, up to and including maturity
  • Security: Unsecured
  • Redemption: On the maturity date

The bank reported no cancellation or termination of the issuance proposal. It also disclosed no delay exceeding three months or default in the payment of interest or principal.

Use of proceeds and proposed listings

ICICI Bank said the net proceeds will be used for general corporate purposes in accordance with relevant regulatory guidelines.

The notes are proposed to be listed on the Global Securities Market of India International Exchange IFSC Limited, the Debt Securities Market of NSE IFSC Limited and SGX-ST.

The filing stated that the document does not constitute an offer to sell or a solicitation to buy the notes. It also said the securities have not been, and will not be, registered under the United States Securities Act of 1933 or US state securities laws, and are not intended for a US public offering.

Source: BSE corporate announcement.