IDBI prices $350 million Reg-S security

India's leading project finance bank returns to the market after a six-year absence.

Cash-rich investors continue to support a vibrant Asian primary bond market. A wide range of borrowers throughout the region, across industries and along the credit spectrum have launched deals in recent weeks. Indian banks have been among the most prominent.

On Friday, the Industrial Development Bank of India IDBI came to market with its first bond since 2004 $300 million five-year issue pricing a $350 million five-and-a-half year Reg-S security.

The notes pay a 4.75% semi-annual...

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