IDBI Bank is the first Indian bank to make a Swiss Franc Bond Issue during 2012. The bank launched a Swiss Franc (CHF) denominated bond on March 16, 2012 for an amount of CHF 100 million with a maturity of three and a half year. The issue received encouraging response and was oversubscribed.
IDBI Bank decided to close the issue the same day with an issue size of CHF 110 million at an annual coupon of 3.125%. The documents for the issue were signed on April 10, 2012 and the proceeds of the issue were received on April 12, 2012.
The issue was being made by IDBI Bank through its offshore branch at Dubai International Financial Centre (DIFC), Dubai. The main investors for the issue were Private Banks and High Networth Individuals. Deutsche Bank was the sole lead manager and book-runner for the issue.
