By Reshmi Basu
New York, Nov. 9 - ICICI Bank Ltd. (Baa3/BB+) priced an upsized $500 million offering of five-year senior fixed-rate notes at 99.572 with a 5¾% coupon to yield 130 basis points over Treasuries, according to a market source.
The deal priced in line with price guidance, which was set at the low 130s basis points over Treasuries.
Deutsche Bank and Merrill Lynch were the joint bookrunners for the Rule 144A/Regulation S issue through ICICI's Singapore branch.
ICICI Bank is based in Mumbai, India.
| Issuer: | ICICI Bank Ltd.
|
| Amount: | $500 million
|
| Issue: | Senior notes
|
| Maturity: | Nov. 16, 2010
|
| Coupon: | 5¾%
|
| Issue price: | 99.572
|
| Yield: | 5.85%
|
| Spread: | 130 basis points more than Treasuries
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 16
|
| Bookrunners: | Deutsche Bank, Merrill Lynch
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB+
|
| Price guidance: | Low 130s basis points more than Treasuries
|
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