By Reshmi Basu
New York, Dec. 8 - State Bank of India sold a $300 million offering of five-year Eurobonds at par to yield three-month Libor plus 50 basis points, according to a market source.
The deal came in line with revised price guidance that was in the 50 bps area, which was lowered from prior guidance of Libor plus 50 to 55 bps.
Barclays Capital, Citigroup and Deutsche Bank were lead managers for the Regulation S deal.
The issuer is a New Delhi, India-based state-run bank.
| Issuer: | State Bank of India
|
| Amount: | $300 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Dec. 15, 2011
|
| Coupon: | Three-month Libor plus 50 bps
|
| Issue price: | Par
|
| Yield: | Three-month Libor plus 50 bps
|
| Pricing date: | Dec. 8
|
| Lead managers: | Barclays, Citigroup, Deutsche Bank
|
| Distribution: | Regulation S
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB+
|
| Fitch: BBB-
|
| Revised price guidance: | Libor plus 50 bps area
|
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