Published on 3/19/2013 in the Prospect News Emerging Markets Daily.
New Issue: India's IDBI Bank sells $500 million 3¾% notes due 2019 at Treasuries plus 300 bps
By Christine Van Dusen
Atlanta, March 19 - India's IDBI Bank Ltd. sold $500 million 3¾% notes due Jan. 25, 2019 at 99.786 to yield 3.792%, or Treasuries plus 300 basis points, a market source said.
HSBC and Standard Chartered Bank were the bookrunners for the Regulation S deal.
IDBI Bank is a lender based in Mumbai.
| Issuer: | IDBI Bank Ltd.
|
| Amount: | $500 million
|
| Maturity: | Jan. 25, 2019
|
| Description: | Notes
|
| Bookrunners: | HSBC, Standard Chartered Bank
|
| Coupon: | 3¾%
|
| Price: | 99.786
|
| Yield: | 3.792%
|
| Spread: | Treasuries plus 300 bps
|
| Trade date: | March 19
|
| Settlement date: | March 25
|
| Rating: | Moody's: Baa3
|
| Distribution: | Regulation S
|
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