Published on 3/2/2017 in the Prospect News Emerging Markets Daily.
New Issue: India’s Icici Bank prices $300 million 3¼% 5.5-year notes at 135 bps over Treasuries
By Christine Van Dusen
Atlanta, March 2 – Icici Bank Ltd. priced $300 million 3¼% notes due Sept. 9, 2022 (Baa3/BBB-) at 99.447 to yield 3.361%, or Treasuries plus 135 basis points, a market source said.
The notes were talked at a spread of 135 bps to 140 bps.
BofA Merrill Lynch, HSBC, JPMorgan, MUFG and Icici Bank’s Singapore branch were the bookrunners for the Regulation S deal.
Icici Bank is based in Mumbai.
| Issuer: | Icici Bank Ltd.
|
| Amount: | $300 million
|
| Maturity: | Sept. 9, 2022
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, HSBC, JPMorgan, MUFG, Icici Bank’s Singapore branch
|
| Coupon: | 3¼%
|
| Price: | 99.447
|
| Yield: | 3.361%
|
| Spread: | Treasuries plus 135 bps
|
| Trade date: | March 2
|
| Settlement date: | March 9
|
| Expected ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | Regulation S
|
| Price talk: | Treasuries plus 135 bps to 140 bps
|
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