ICICI Bank Issue USD 1 Billion Notes Via IFSC Branch

MUMBAI — ICICI Bank Limited announced on July 30, 2026, that it has completed the issuance of $1 billion in senior unsecured fixed-rate notes through its IFSC Banking Unit in GIFT City. The 5-year debt securities were issued under the private lender's $7.5 billion Global Medium Term Note (GMTN) Programme. The completion of the deal follows regulatory filings submitted to stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Terms of the Bond Issue and Credit Ratings

The newly issued 5-year notes carry a fixed coupon interest rate of 5.459% per annum, with semi-annual interest payments scheduled on July 30 and January 30 through maturity on July 30, 2031. Allotment of the debt instruments was formally finalized on July 30, 2026.

International rating agencies assigned investment-grade ratings to the debt issue. S&P Global Ratings assigned a BBB rating, while Moody's Ratings issued a Baa3 rating for the notes. The senior notes are unsecured and hold no charge or security over the bank's assets.

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| Parameter                | Details                                                                                   |
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| Issuer                        |    ICICI Bank Limited (acting via IFSC Banking Unit)           | 
| Total Issue Size         |    USD 1 Billion                                                                     |
| Overall Programme   |    USD 7.5 Billion Global Medium Term Note Programme    |
| Instrument Type         |    Senior Unsecured Fixed Rate Notes                                |
| Allotment Date           |    July 30, 2026                                                                     |
| Maturity Date             |    July 30, 2031 (5-Year Tenure)                                           |
| Fixed Coupon Rate    |    5.459% per annum                                                           |
| Credit Ratings            |    BBB (S&P Global Ratings) / Baa3 (Moody's Ratings)      |
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Offshore Listing and Regulatory Compliance

The senior notes were structured under 144A/RegS Registered rules as a Category 1 drawdown. ICICI Bank confirmed that the notes will be listed across three international trading platforms:

• Global Securities Market of the India International Exchange IFSC Limited (India INX)

• Debt Securities Market of the NSE IFSC Limited

• Singapore Exchange Securities Trading Limited (SGX-ST)

The bank clarified that the document does not constitute an offer of securities in the United States and that the notes have not been registered under the U.S. Securities Act of 1933. Net proceeds from the debt issuance will be deployed for general corporate activities in compliance with applicable regulatory parameters.

Official Sources Section

This report relies on official regulatory filings submitted by ICICI Bank Limited under Regulation 30 of the SEBI (LODR) Regulations, 2015, on July 30, 2026. Filings were directed to BSE Limited and the National Stock Exchange of India Limited. Copies were also dispatched to the New York Stock Exchange, Singapore Stock Exchange, Japan Securities Dealers Association, and SIX Swiss Exchange Ltd.

Quote Section

According to official disclosures signed by Prachiti Lalingkar, Company Secretary at ICICI Bank Limited:

"In continuation to our earlier letters dated July 24, 2026, please note that ICICI Bank Limited ('Bank'), acting through its IFSC Banking Unit, has today completed the issuance of USD 1 billion Senior Unsecured Fixed Rate Notes ('Notes') under the USD 7.5 billion Global Medium Term Note Programme of the Bank."

Why It Matters

The completion of the $1 billion bond issuance strengthens ICICI Bank's foreign currency liquidity profile and expands its international investor base. For global investors and banking sector observers, the successful placement via GIFT City reinforces the growing utilization of India's International Financial Services Centre for institutional cross-border capital market transactions.

Key Facts at a Glance

• Issuer Identity: ICICI Bank Limited through its IFSC Banking Unit at GIFT City.

• Capital Raised: $1 billion in 5-year senior unsecured fixed-rate notes at 5.459% interest.

• Credit Evaluation: Rated BBB by S&P Global Ratings and Baa3 by Moody's Ratings.

• Listing Destinations: India INX, NSE IFSC, and SGX-ST.

• Maturity Profile: Allotted on July 30, 2026, maturing on July 30, 2031.

FAQ Section

What is the purpose of ICICI Bank's USD 1 billion note issue?

The net proceeds from the bond sale will be utilized by ICICI Bank for general corporate purposes in line with regulatory rules.

Where will the USD 1 billion notes be listed?

The notes will be listed on the Global Securities Market of India INX, the Debt Securities Market of NSE IFSC, and the Singapore Exchange (SGX-ST).

What credit ratings were assigned to the issuance?

S&P Global Ratings assigned a BBB rating, while Moody's Ratings assigned a Baa3 rating to the senior notes.

Were these notes offered to retail investors in the U.S.?No, the securities were issued under 144A/RegS rules and were not registered under the U.S. Securities Act of 1933, making them ineligible for public offering in the United States.