Bank of Baroda brings benchmark bond

India's Bank of Baroda prices a $500 million 5.5-year bond on Friday morning, while Road King Infrastructure and LDK Solar both issue renminbi-denominated bonds.

Bank of Baroda, acting through its London branch, priced $500 million of 5.5-year bonds early last Friday morning. The bonds were issued at a spread of Treasuries plus 285bp to yield 5.125%. Around noon on Friday, the new bonds were straddling the reoffer price.

Barclays Capital, Citi, HSBC, J.P. Morgan and Standard Chartered Bank were joint bookrunners.

The bonds priced at the tight end of the final guidance of Treasuries plus 285bp to 290bp and inside the...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition