New Issue: India's Syndicate Bank prices $500 million 4¾% notes due 2016 at 285 bps spread

By Christine Van Dusen

Atlanta, May 4 - India's Syndicate Bank sold $500 million 4¾% senior notes due Nov. 6, 2016 (Baa2/BBB-/) at 99.771 to yield 4.802%, or Treasuries plus 285 basis points, a market source said.

Merrill Lynch, Citigroup, Deutsche Bank, HSBC, JPMorgan, RBS and Standard Chartered were the bookrunners for the Regulation S deal.

Syndicate Bank is a commercial lender based in Manipal, India.

Issuer:	Syndicate Bank
Amount:	$500 million
Maturity:	Nov. 6, 2016
Description:	Senior notes
Bookrunners:	Merrill Lynch, Citigroup, Deutsche Bank, HSBC, JPMorgan, RBS, Standard Chartered
Coupon:	4¾%
Price:	99.771
Yield:	4.802%
Spread:	Treasuries plus 285 bps
Trade date:	May 3
Settlement date:	May 6
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB-
Distribution:	Regulation S

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