By Aleesia Forni
Columbus, Ohio, Feb. 27 - Axis Bank Ltd. priced a $500 million issue of 5 1/8% 5.5-year bonds (BBB-/BBB-) at a 440 basis points spread to Treasuries, according to a market source.
Price talk was set at Treasuries plus 450 bps.
The bonds priced at 99.442 to yield 5.243%.
Barclays Capital, Citigroup, HSBC, JPMorgan and Standard Chartered Bank were the bookrunners.
Axis Bank is a Mumbai, India-based lender.
| Issuer: | Axis Bank Ltd.
|
| Amount: | $500 million
|
| Description: | Dollar-denominated bonds
|
| Maturity: | Sept. 5, 2017
|
| Bookrunners: | Barclays Capital, Citigroup, HSBC, JPMorgan, Standard Chartered Bank
|
| Coupon: | 5 1/8%
|
| Price: | 99.442
|
| Yield: | 5.243
|
| Spread: | Treasuries plus 440 bps
|
| Trade date: | Feb. 27
|
| Settlement date: | March 5
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Price talk: | Treasuries plus 450 bps
|
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