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India’s IDBI Bank sets talk in 270 bps area for benchmark dollar green notes due in five years
By Christine Van Dusen
Atlanta, Nov. 23 – India’s IDBI Bank Ltd. (Dubai International Financial Centre Branch) set talk in the Treasuries plus 270 basis points area for a dollar-denominated offering of benchmark-sized green bonds due in five years (expected ratings: Baa3//BBB-), according to a company announcement.
BNP Paribas, ANZ, Citigroup, HSBC, JPMorgan and Standard Chartered Bank are the bookrunners for the deal.
The notes will include a change-of-control put at 100% if the government of India's shareholding falls below 51%.
The proceeds will be used to reimburse the company for funding of new and existing green projects.
IDBI Bank is a public sector bank based in Mumbai.
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