New Issue: State Bank of India's CHF 325 million 3 3/8% 2016 notes yield mid-swaps plus 185 bps

By Christine Van Dusen

Atlanta, Feb. 8 - State Bank of India priced CHF 325 million 3 3/8% notes due Feb. 22, 2016 (Baa2/BBB-/) at 99.955 to yield mid-swap plus 185 basis points, a market source said.

The deal, which was upsized from CHF 250 million, priced in line with talk of a spread in the mid-swaps plus 185 bps area.

Barclays Capital, Deutsche Bank, HSBC, RBS and Standard Chartered were the bookrunners for the Regulation S deal.

State Bank of India is a Mumbai, India-based lender.

Issuer:	State Bank of India
Amount:	CHF 325 million
Maturity:	Feb. 22, 2016
Description:	Notes
Bookrunners:	Barclays Capital, Deutsche Bank, HSBC, RBS, Standard Chartered
Coupon:	3 3/8%
Price:	99.955
Spread:	Mid-swaps plus 185 bps
Trade date:	Feb. 8
Settlement date:	Feb. 22
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB-
Distribution:	Regulation S
Price talk:	Mid-swaps plus 185 bps area

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