By Reshmi Basu
New York, Feb. 15 - ICICI Bank UK plc sold $500 million five-year senior unsecured notes (Baa1) at par to yield three-month Libor plus 62 basis points, according to a market source.
The deal priced inside of guidance, which was set in the area of Libor plus 65 bps. Furthermore, the size of the deal came at the top of the $300 million to $500 million range that was being shopped around by the issuer.
Barclays Capital and Deutsche Bank were lead managers for the Regulation S deal.
The issuer is a unit of Mumbai, India-based ICICI Bank Ltd.
| Issuer: | ICICI Bank UK plc
|
| Amount: | $500 million
|
| Issue: | Senior unsecured notes
|
| Maturity: | Five years
|
| Coupon: | Three-month Libor plus 62 bps
|
| Issue price: | Par
|
| Yield: | Three-month Libor plus 62 bps
|
| Lead managers: | Barclays Capital, Deutsche Bank
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 27
|
| Distribution: | Regulation S
|
| Rating: | Moody's: Baa1
|
| Price guidance: | Libor plus 65 bps area
|
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