ICICI Bank Joins Indian Banks Seeking Dollar Loans, Boosting Demand

ICICI Joins Indian Banks Chasing Dollar Loans, Swelling Demand

India’s ICICI Bank Ltd. has launched a syndicated offshore loan of about $1.45 billion, according to people familiar with the matter, joining a growing number of local banks tapping overseas debt to capitalize on a central bank facility that lowers hedging costs.

By Sheryl Tian Tong Lee and Saikat Das