IndusInd Bank Limited (“IndusInd”) announces successful pricing of its inaugural USD denominated public bond for USD 400 millionEstimated reading time: 3 minutes

IndusInd Bank Limited (“IndusInd”) announces successful pricing of its inaugural USD denominated public bond for USD 400 million

Posted on Wednesday, April 10th, 2019 | By IndusInd Bank

  • USD 400 million 3-year Regulation S only issuance at 3.875% coupon
  • Strong final order book in excess of USD 1.4 billion that included marquee accounts across
    geographies
  • 3.5x oversubscription allowed IndusInd Bank to tighten the pricing by 25 bps (i.e. from initial
    guidance of T+210 bps and a overwhelming book build of over USD2billion area to final pricing
    of T+185bps and a final order book of USD 1.40 billion)
  • Issued out of Medium Term Note (MTN) Programme, the bond is listed on the Singapore
    Exchange Securities Trading Limited (Singapore SGX) and the India International Exchange (India INX)
  • Transaction executed in a window of huge market supply

Mumbai, April 09, 2019: IndusInd Bank Limited priced its maiden USD Bond issuance in the offshore
public markets. The Bank raised USD 400 million at a coupon rate of 3.875% per annum, payable
semi-annually. Notes will be listed on Singapore SGX and the India INX, Gift City.

The issue received an overwhelming response and saw strong interest from investors across Asia
and EMEA with a final order book in excess of USD 1.4 billion across 130 accounts. On the back of
strong demand, the guidance was revised from T+210 area to T+185 (the number). The Notes carry
a final rating of Baa3 from Moody’s.

The successful issuance demonstrates the strong credit quality of IndusInd Bank and investors’
affinity towards the Bank. IndusInd Bank has created a successful benchmark for itself in offshore
capital markets through its debut issuance.

Commenting on the occasion, Mr Romesh Sobti, Managing Director and CEO, IndusInd Bank said
“IndusInd Bank has made a successful debut in the offshore bond markets through a benchmark 3
year issuance. We are happy to see the response received on this offering to global fixed income
investors. This gives the Bank not only an important source of funds diversification, but also an
enhanced capability to support the growth aspirations of our Indian clients that are expanding in
the region and globally.”

BofA Merrill Lynch, Barclays, Citigroup, CLSA, HSBC (B&D), J.P. Morgan and Standard Chartered
Bank acted as Joint Bookrunners and Joint Lead Managers for this offering.

About IndusInd Bank –

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer
and corporate customers. Its technology platform supports multi-channel delivery capabilities.
As on December 31, 2018, IndusInd Bank has 1558 Branches/Banking outlet, and 2453 ATMs
spread across geographical locations of the country. The Bank also has representative offices in
London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It
enjoys clearing bank status for both major stock exchanges – BSE and NSE – and major
commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April
1, 2013 was included in the NIFTY 50 benchmark index.

Ratings:

  • CRISIL AA + for Infra Bonds program
  • CRISIL AA for Additional Tier I Bonds program
  • CRISIL A1+ for certificate of deposit program
  • IND AA+ for Senior bonds program by India Ratings and Research
  • IND AA for Additional Tier I Bonds program by India Ratings and Research
  • IND A1+ for Short Term Debt Instruments by India Ratings and Research
  • Moody’s Baa3 STA for long-term local and foreign currency bank deposit and issuer rating

Visit us at www.indusind.com
Twitter- @MyIndusIndBank
Facebook – https://www.facebook.com/OfficialIndusIndBankPage/

For more details on this release, please contact:

Anu Raj            Sinoj Sadanandan
IndusInd Bank LtdAdfactors PR
[email protected][email protected]
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