New Issue: India's Icici Bank sells $750 million 4.8% notes due 2019 at 355 bps over Treasuries

By Christine Van Dusen

Atlanta, Nov. 18 - India's Icici Bank Ltd. priced $750 million 4.8% notes due May 22, 2019 (expected ratings: Baa2/BBB-/) at 99.609 to yield 4.882%, or Treasuries plus 355 basis points, a market source said.

The notes were talked at a spread in the Treasuries plus 360 bps area.

BofA Merrill Lynch, Barclays, Citigroup, Deutsche Bank, HSBC and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.

Icici Bank is based in Mumbai, India.

Issuer:	Icici Bank Ltd.
Amount:	$750 million
Maturity:	May 22, 2019
Description:	Senior notes
Bookrunners:	BofA Merrill Lynch, Barclays, Citigroup, Deutsche Bank, HSBC, Standard Chartered Bank
Coupon:	4.8%
Price:	99.609
Yield:	4.882%
Spread:	Treasuries plus 355 bps
Trade date:	Nov. 18
Settlement date:	Nov. 22
Expected ratings:	Moody's: Baa2
	Standard & Poor's: BBB-
Distribution:	Rule 144A and Regulation S
Price talk:	Treasuries plus 360 bps area

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