New Issue: Indian Overseas Bank sells $500 million 5% unsecured bonds due 2016

By Devika Patel

Knoxville, Tenn., April 15 - Indian Overseas Bank said it priced $500 million of senior bonds under its $1 billion medium-term note program in a deal that will settle on April 19.

The interest rate will be 5%, and the bonds mature Oct. 19, 2016.

Indian Overseas Bank is a lender based in Chennai, India.

Issuer:	Indian Overseas Bank
Issue:	Senior unsecured bonds
Amount:	$500 million
Maturity:	Oct. 19, 2016
Coupon:	5%
Pricing date:	April 15
Settlement date:	April 19

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