MUMBAI, Jan 9 (Reuters) - Export Import Bank of India this week raised $1 billion through the sale of U.S. dollar-denominated bonds maturing in 10 years, it said in a statement.
The lender sold these bonds at 5.50%, a spread of 100 basis points above the U.S. Treasury yield, with the spread 30 bps below its initial guidance.
This is the first dollar bond issuance from an Indian issuer in 2025.
It also marks the tightest yield spread ever achieved for a 10-year issuance out of India, according to the lender.
Export Import Bank of India said that half of the bonds were distributed in Asia, about one-third in Europe, Middle East, and Africa region and 18% in the U.S.
About 64% of the notes were sold to asset and fund managers, 18% to banks, and 16% to insurance, pension funds and the public sector, followed by private banks and others, the lender said on Tuesday.
The senior bonds will be rated Baa3, BBB– and BBB– by Moody's, S&P and Fitch Ratings, respectively, in line with the issuer rating.
BofA Securities, Citigroup, HSBC, J.P. Morgan and Standard Chartered Bank acted as joint lead managers and joint bookrunners for the offering.
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
((Dharamraj.dhutia@tr.com))
