More banks may join overseas bond run after ICICI's bumper dollar bond sale

ICICI Bank's successful inaugural dollar bond sale, marked by strong investor appetite and a low interest rate, is expected to encourage more domestic lenders to tap overseas debt markets in the coming weeks as banks seek to lock in competitive funding costs amid sustained global demand for Indian financial paper.The private sector lender has raised $1 billion through a five-year dollar-denominated bond issued via its GIFT City branch, doubling the deal size from an initially planned $500 million after attracting strong investor demand. The benchmark-sized issue was initially marketed at aroun.