By Christine Van Dusen
Atlanta, Aug. 21 - India's IDBI Bank priced a S$250 million issue of notes due Aug. 28, 2015 (Baa3) at par to yield 3.65%, a market source said.
The notes were talked at 4%.
DBS Bank, HSBC and Standard Chartered were the bookrunners for the Regulation S notes, which include a change-of-control put at 100% if direct and indirect government shareholding falls below 51%.
IDBI is a lender based in Mumbai, India.
| Issuer: | IDBI Bank
|
| Amount: | S$250 million
|
| Maturity: | Aug. 28, 2015
|
| Description: | Senior notes
|
| Bookrunners: | DBS Bank, HSBC, Standard Chartered
|
| Coupon: | 3.65%
|
| Price: | Par
|
| Yield: | 3.65%
|
| Change-of-control put: | At 100% if direct and indirect government shareholding falls below 51%
|
| Trade date: | Aug. 21
|
| Settlement date: | Aug. 28
|
| Rating: | Moody's: Baa3
|
| Distribution: | Regulation S
|
| Price talk: | 4%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
