IndusInd Bank has priced its maiden USD Bond issuance in the offshore public market. The Bank raised $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 $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 is as one of the fastest-growing banks in the banking sector in India.
