Mumbai, July 14 -- ICICI Bank Ltd is set to raise its overseas borrowing capacity as it looks to tap international debt markets, the bank said in an exchange filing on Tuesday.

The private sector lender said its board, at a meeting scheduled for 18 July, will consider revising its fundraising limit through the issuance of bonds, notes and offshore certificates of deposit in overseas markets.

The announcement comes amid media reports that ICICI Bank is preparing to raise at least $500 million through a likely five-year bond issue.

The bank would be the latest lender to take advantage of the Reserve Bank of India's recent measures to attract foreign currency inflows.

On 5 June, as part of a broader package to attract dollar inflows and ...