41% coupon, people familiar with the details said. The is the second dollar bond by the private sector bank within a week after it raised $750 million through a five year public issue on August 17.

Separately, public sector Union Bank of India has raised $600 million by selling its first international dollar bond in more than a decade as it became the latest among multiple Indian banks to take advantage of the special Reserve Bank of India (RBI) swap window. The bank raised $300 million each by selling three year and five year dollar bonds in a public issue marketed to international investors in Asia and Europe.

“The three year bond was priced at 93 basis points above the three year US treasury while the five year issue was priced at 102 basis points above the five year US treasury. 7 billion,” said a person aware of the details.

01 percentage point. Earlier on Monday, Union Bank had set a guidance of 120 basis points above the three year US security for the three year bond and 130 basis points above five year US treasury guidance.

41%. Union Bank did not reply to an email seeking comment.

For ICICI this is the third bond issue since the RBI opened a special swap window for banks in June. In July, India’s second-largest private sector lender had raised $1 billion through a similar five-year bond, its first public dollar bond issuance since 2017.

42% coupon. Both ICICI and HSBC did not reply to separate emails seeking comment.

Meanwhile, the UCO Bank board approved raising of $ 1 billion, in one or more tranches, through the bank’s medium term note programme.