By Reshmi Basu
New York, July 7 - Export Import Bank of India priced $250 million five-year bonds (Baa3/BB) at 99.447 to yield 185 basis points over U.S. Treasuries or 5.503%, according to a market source.
The deal was upsized to $250 million from $200 million.
The offering was the first government-backed issuance since the Indian National Congress party took office in May.
Deutsche Bank and Citigroup ran the Regulation S deal for the state-owned bank.
| Issuer: | Export Import Bank of India
|
| Amount: | $250 million
|
| Issue: | Bonds
|
| Maturity: | July 14, 2009
|
| Coupon: | 5.375%
|
| Issue price: | 99.447
|
| Yield: | 5.503%
|
| Spread: | 185 basis points
|
| Issue date: | July 7
|
| Settlement date: | July 14
|
| Bookrunners: | Deutsche Bank, Citigroup
|
| Ratings: | Moody's: Baa3
|
| Standard and Poor's: BB
|
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