New Issue: India's IDBI Bank sells $500 million 4 3/8% notes due 2018 at Treasuries plus 370 bps

By Christine Van Dusen

Atlanta, Sept. 17 - India's IDBI Bank priced a $500 million issue of 4 3/8% notes due March 26, 2018 (Baa3/BBB-/) at 99.855 to yield Treasuries plus 370 basis points, a market source said.

The notes priced tighter than talk, set at the Treasuries plus 375 bps area.

ANZ, BNP Paribas, Citigroup, HSBC, RBS and Standard Chartered were the bookrunners for the Regulation S-only deal.

IDBI is a lender based in Mumbai, India.

Issuer:	IDBI Bank
Amount:	$500 million
Maturity:	March 26, 2018
Description:	Notes
Bookrunners:	ANZ, BNP Paribas, Citigroup, HSBC, RBS, Standard Chartered
Coupon:	4 3/8%
Price:	99.855
Spread:	Treasuries plus 370 bps
Trade date:	Sept. 17
Settlement date:	Sept. 26
Ratings:	Moody's: Baa3
	Standard & Poor's: BBB-
Distribution:	Regulation S only
Price talk:	Treasuries plus 375 bps area

© 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.