New Issue: India's IDBI Bank prices $300 million 5% notes due 2019 at Treasuries plus 350 bps

By Christine Van Dusen

Atlanta, March 19 - India's IDBI Bank Ltd. priced $300 million 5% notes due Sept. 25, 2019 (expected ratings: Baa3//BBB-) at 99.71 to yield 5.061%, or Treasuries plus 350 basis points, a market source said.

BNP Paribas, Citigroup, Credit Agricole, HSBC and RBS were the bookrunners for the Regulation S deal.

The notes will include a change-of-control put at 100%.

IDBI Bank is a public sector bank based in Mumbai.

Issuer:	IDBI Bank Ltd.
Amount:	$300 million
Maturity:	Sept. 25, 2019
Description:	Notes
Bookrunners:	BNP Paribas, Citigroup, Credit Agricole, HSBC, RBS
Coupon:	5%
Price:	99.71
Yield:	5.061%
Spread:	Treasuries plus 350 bps
Change-of-control put:	100%
Trade date:	March 19
Settlement date:	March 25
Expected ratings:	Moody's: Baa3
	Fitch: BBB-
Distribution:	Regulation S

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