Published on 11/8/2010 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: India's Icici Bank prices $1 billion 5¾% notes due 2020 at 99.542 to yield 5.811%
By Christine Van Dusen
Atlanta, Nov. 8 - India's Icici Bank Ltd. priced $1 billion 5¾% notes due Nov. 16, 2020 (Baa2/BBB-/) at 99.542 to yield 5.811%, a market source said.
Barclays Capital, Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal, which was talked at a spread in the Treasuries plus 335 basis points area.
Icici Bank is a Mumbai, India-based lender.
| Issuer: | Icici Bank Ltd.
|
| Amount: | $1 billion
|
| Maturity: | Nov. 16, 2020
|
| Description: | Senior notes
|
| Bookrunners: | Barclays Capital, Citigroup, Deutsche Bank
|
| Coupon: | 5¾%
|
| Price: | 99.542
|
| Yield: | 5.811%
|
| Trade date: | Nov. 8
|
| Settlement date: | Nov. 16
|
| Expected ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 335 bps area
|
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