By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., Jan. 18 – Export-Import Bank of India, acting through its head office in India, sold $1 billion 5½% 10-year bonds (//BBB-), according to a listing notice and more information from a market source.
The bonds are being issued under India Exim Bank’s ESG framework.
The bonds priced with a spread of 190 basis points over Treasuries. Initial price talk was in the 220 bps area.
The Rule 144A and Regulation S bonds were issued Jan. 18 and will be listed on the Singapore Exchange effective Jan. 19.
BofA, Barclays, Citigroup, HSBC, JPMorgan, MUFG and Standard Chartered Bank were listed as joint lead managers and bookrunners for Rule 144A and Regulation S deal.
The peak orderbook was 3.7x deal size.
Proceeds will be used for eligible projects under the bank’s ESG framework.
The issuer is a Mumbai-based bank.
| Issuer: | Export-Import Bank of India
|
| Amount: | $1 billion
|
| Issue: | Sustainability bond
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| Maturity: | Jan. 18, 2033
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| Joint bookrunners: | BofA, Barclays, Citigroup, HSBC, JPMorgan, MUFG and Standard Chartered Bank
|
| Coupon: | 5½%
|
| Spread: | Treasuries plus 190 bps
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 18
|
| Rating: | Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
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| ISINs: | US30216JAG04, US30216KAG76
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| Price talk: | Treasuries plus 220 bps area
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