New Issue: India's Axis Bank prices $500 million 4¾% notes due 2016 at Treasuries plus 360 bps

By Christine Van Dusen

Atlanta, Oct. 26 - India's Axis Bank Ltd. priced $500 million 4¾% notes (Baa2/BBB-/) due May 2, 2016 at 99.599 to yield 4.834%, or Treasuries plus 360 basis points, a market source said.

Bank of America Merrill Lynch, Citigroup, Deutsche Bank, JPMorgan and RBS were the bookrunners for the Rule 144A and Regulation S transaction, which was talked at a yield of Treasuries plus 255 bps to 365 bps.

Proceeds will be used for overseas operations and for general corporate purposes.

Axis Bank is a Mumbai, India-based lender.

Issuer:	Axis Bank Ltd.
Amount:	$500 million
Maturity:	May 2, 2016
Description:	Senior notes
Bookrunners:	Bank of America Merrill Lynch, Citigroup, Deutsche Bank, JPMorgan, RBS
Coupon:	4¾%
Price:	99.599
Yield:	4.834%
Spread:	Treasuries plus 360 bps
Call features:	Non-callable
Trade date:	Oct. 26
Settlement date:	Nov. 2
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB-
Distribution:	Rule 144A and Regulation S
Price talk:	Treasuries plus 255 bps to 365 bps

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