ICICI Bank, India's second largest lender today said that it has raised $750 million through the issue of five-year bonds at it Bahrain branch. The bank said in a press release that the issue which had an order book of over $3 billion had seen participation from over 250 investors.

The bank said the 5.33 year fixed rate notes carried a coupon of 5.5 per cent which translated to 292.6 basis points spread across equivalent Libor.

Last month, State Bank of India raised $750-million through the issue of five year bonds abroad.