Davis Polk advised ICICI Bank Limited, acting through its Dubai branch, in connection with a Rule 144A/Regulation S offering of $750 million aggregate principal amount of 4.7% notes due 2018. Citigroup Global Markets Limited, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Merrill Lynch International and Standard Chartered Bank were the joint lead managers and dealers for the offering.
ICICI Bank is the largest private sector bank in India and the second-largest bank in India in terms of total assets. ICICI Bank has over 2,700 branches in India and branches and representative offices throughout the world, including in the United States, Canada, Europe and Asia. ICICI Bank is listed on the Bombay Stock Exchange and the National Stock Exchange of India and has its ADSs listed on the New York Stock Exchange.
The Davis Polk corporate team included partners Eugene C. Gregor and Margaret E. Tahyar, counsel Ferish Patel and associate Alan Cheung. Counsel Alon Gurfinkel provided tax advice. Counsel Erin Cho provided compensation and benefits advice. Geetika Sood was the legal assistant on the transaction. Members of the Davis Polk team are based in the Hong Kong, London, New York and Washington DC offices.
