Published on 3/14/2013 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Bank of India prices $500 million 3 5/8% notes due 2018 at Treasuries plus 280 bps
By Christine Van Dusen
Atlanta, March 14 - Bank of India priced $500 million 3 5/8% notes due in September 2018 (expected ratings: Baa3/BBB-/) to yield Treasuries plus 280 basis points, a market source said.
The notes priced at the tight end of talk, set at Treasuries plus 280 bps to 285 bps.
Barclays, BofA Merrill Lynch, Citigroup, HSBC, Deutsche Bank and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
Bank of India is based in Mumbai.
| Issuer: | Bank of India
|
| Amount: | $500 million
|
| Maturity: | September 2018
|
| Description: | Notes
|
| Bookrunners: | Barclays, BofA Merrill Lynch, Citigroup, HSBC, Deutsche Bank, JPMorgan
|
| Coupon: | 3 5/8%
|
| Spread: | Treasuries plus 280 bps
|
| Trade date: | March 14
|
| Expected ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 280 bps to 285 bps
|
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