Published on 3/6/2019 in the Prospect News Emerging Markets Daily.
New Issue: Export-Import Bank of India sells $500 million 3 7/8% five-year notes at 140 bps spread
By Rebecca Melvin
New York, March 6 – Export-Import Bank of India priced $500 million 3 7/8% five-year notes (Baa2//BBB-) at 99.658 to yield 3.951%, or a yield spread of U.S. Treasuries plus 140 basis points, according to a syndicate source on Wednesday.
HSBC and Standard Chartered Bank were the bookrunners for the Regulation S deal.
| Issuer: | Export-Import Bank of India
|
| Amount: | $500 million
|
| Maturity: | March 12, 2024
|
| Description: | Notes
|
| Bookrunners: | HSBC and Standard Chartered Bank
|
| Coupon: | 3 7/8%
|
| Price: | 99.658
|
| Yield: | 3.951%
|
| Spread: | Treasuries plus 140 bps
|
| Trade date: | March 6
|
| Settlement date: | March 12
|
| Ratings: | Moody’s: Baa2
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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