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VERIFIEDET Finance·neutral
ICICI Bank seeks to raise $1.45-billion loan from a BofA-led consortium
AI Summary
- ·ICICI Bank is seeking a $1.45 billion loan from a Bank of America-led consortium.
- ·The loan is for a four-year term and aims to attract leveraged investors to the FCNR-B deposit program.
- ·The Reserve Bank of India will absorb currency hedging costs for these deposits.