By Reshmi Basu
New York, Jan. 16 - State Bank of India reopened its eurobonds due 2011 to add $200 million in a drive-by offering on Monday, according to a market source.
The deal (Baa2/BB+/BBB-) priced at 100.2122 to yield three-month Libor plus 45 basis points.
Deutsche Bank was the lead manager for the Regulation S re-tap.
On Dec. 8, State Bank of India placed $300 million of the original notes at par to yield three-month Libor plus 50 bps.
With the additional notes, the size of the deal stands at $500 million.
The issuer is a New Delhi, India-based state-run bank.
| Issuer: | State Bank of India
|
| Issue: | Reopening of 2011 senior unsecured floating-rate notes
|
| Amount: | $200 million
|
| Total amount: | $500 million
|
| Maturity: | Dec. 15, 2011
|
| Coupon: | Three-month Libor plus 50 bps
|
| Issue price: | 100.2122
|
| Yield: | Three-month Libor plus 45 bps
|
| Lead manager: | Deutsche Bank
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 23
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB+
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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