Exim Bank of India widens investor base with euro-yen issue

The transaction prices at the tight end of guidance against a backdrop of an oversupply of Indian paper.

Barclays Capital and Nikko Citigroup led Export-Import Bank of India through a Ñ24 billion Reg-S, Baa3BBB-BBB Moody'sSPJCR rated, five-year bond last night. The deal priced at par at 50bp over three-month yen Libor 51.5bp over dollar Libor, and attracting an order book of Ñ30 billion.

By issuing in yen, Exim Bank achieved a tighter price than it would have by issuing in dollars, and was able to take advantage of savings on the...

To continue reading, please login or register for free

Click for more on: exim | citi | barclays

Print Edition

FinanceAsia Print Edition

CONFERENCES