Published on 1/17/2017 in the Prospect News Emerging Markets Daily.
New Issue: State Bank of India prices $500 million 3¼% notes due 2022 at 145 bps over Treasuries
By Christine Van Dusen
Atlanta, Jan. 17 – State Bank of India priced $500 million 3¼% five-year notes (expected ratings: Baa3/BBB-/BBB-) at 99.744 to yield 3.306%, or Treasuries plus 145 basis points, on Tuesday, a market source said.
BofA Merrill Lynch, BNP Paribas, Citigroup, DBS, HSBC, MUFG and SBI Capital Markets were the bookrunners for the Regulation S deal.
State Bank of India is a Mumbai-based public sector banking and financial services company.
| Issuer: | State Bank of India
|
| Amount: | $500 million
|
| Maturity: | Jan. 24, 2022
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, BNP Paribas, Citigroup, DBS, HSBC, MUFG, SBI Capital Markets
|
| Coupon: | 3¼%
|
| Price: | 99.744
|
| Yield: | 3.306%
|
| Spread: | Treasuries plus 145 bps
|
| Trade date: | Jan. 17
|
| Settlement date: | Jan. 24
|
| Expected ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
