By Rebecca Melvin
New York, Jan. 30 – The Export Import Bank of India priced $1 billion 3 7/8% 10-year notes (Baa2//BBB-) at 99.819 of par to yield 3.897%, according to a news release on Tuesday.
Barclays, Citigroup, JPMorgan, MUFG and Standard Chartered Bank were bookrunners for the Rule 144A and Regulation S issue, which attracted an order book of more than $1.8 billion.
Sixty percent of the notes were distributed in the United States, 22% were distributed in Asia and 18% were distributed in Europe.
The new notes were issued under the bank’s $10 billion global medium-term note program and will be listed on the London Stock Exchange International Securities Market.
Proceeds will be used to support Indian exporter projects.
The financial institution is based in Mumbai.
| Issuer: | Export Import Bank of India
|
| Description: | Senior notes
|
| Amount: | $1 billion
|
| Maturity: | Feb. 1, 2028
|
| Bookrunners: | Barclays, Citigroup, JPMorgan, MUFG and Standard Chartered Bank
|
| Coupon: | 3 7/8%
|
| Price: | 99.819
|
| Yield: | 3.897%
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Ratings: | Moody's: Baa2
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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