India's ICICI Bank is in talks with investors to sell longer-tenor infrastructure bonds in what will be its first foray into the debt market this year, three bankers aware of the development said on Thursday.
The private sector lender may tap the market in the next two weeks and is looking to raise up to Rs 40 billion (about $481 million) via bonds maturing in seven to 10 years, they added.
"The bank is finalising the issue details and will tap the market after seeing the response to State Bank of India's infra bonds this week," one of the bankers said.
SBI, the country's largest lender, is planning to raise up to Rs 100 billion through infrastructure bonds maturing in 15 years and has invited bids on Friday.
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