New Issue: India’s Icici Bank sells $700 million 4% 10-year notes at Treasuries plus 210 bps

By Cristal Cody

Eureka springs, Ark., March 14 – Icici Bank Ltd. sold $700 million of 4% 10-year senior notes at 99.592 on Monday through its Dubai International Finance Centre branch in a Rule 144A and Regulation S-eligible offering, according to a company news release and a market source.

The bonds (Baa3/BBB-) priced with a spread of 210 basis points over Treasuries. The notes were talked to price at Treasuries plus 210 bps to 215 bps.

BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Credit Agricole CIB, HSBC Securities (USA) Inc. and MUFG were the bookrunners.

Icici Bank is a Mumbai, India-based banking and financial services company.

Issuer:	Icici Bank Ltd./Dubai International Finance Centre
Amount:	$700 million
Maturity:	March 18, 2026
Securities:	Senior notes
Bookrunners:	BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Credit Agricole CIB, HSBC Securities (USA) Inc., MUFG
Coupon:	4%
Price:	99.592
Spread:	Treasuries plus 210 bps
Trade date:	March 14
Ratings:	Moody’s: Baa3
	Standard & Poor’s: BBB-
Distribution:	Rule 144A, Regulation S
Price talk:	Treasuries plus 210 bps to 215 bps

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