Industrial Bank of India sets guidance for $300 million notes due 2009 at mid-swaps plus 125 to 130 bps

By Reshmi Basu

New York, Dec. 14 - The Industrial Bank of India set price guidance for its $300 million note offering due 2009 (Baa3) at mid-swaps plus 125 to 130 basis points, according to a market source.

Barclays Capital and Merrill Lynch are running the deal.

The issue is expected to price this week, after the end of the roadshow in London on Thursday.

Industrial Bank of India is based in Mumbai.

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