India's ICICI Bank lowers yld in bond sale -source

HONG KONG, Nov 19 (Reuters) - ICICI Bank (ICBK.BO: Quote, Profile, Research), India's second-biggest lender, has lowered the spread range on its dollar bonds to 337.5-350 basis points (bps) over U.S. Treasuries after strong demand, a source close to the deal said on Friday.

The spread range was lowered from 350 bps above and a market source said the order book was over $4 billion.

The bond, due in March 2015, could raise up to $750 million and is expected to be priced in New York trading hours on Friday.

The offering is being arranged by BofA Merrill Lynch (BAC.N: Quote, Profile, Research), Credit Suisse (CSGN.VX: Quote, Profile, Research) and HSBC (HSBA.L: Quote, Profile, Research) (0005.HK: Quote, Profile, Research).

The deal, which was preceded by a series of investor meetings, is rated BBB-minus by Standard & Poor's and Baa2 by Moody's Investors Service. (Reporting by Umesh Desai; Editing by Chris Lewis)