UBI sells $400m bond flat to IDBI price after holding back issue for an extra day
Union Bank of India raised $400m in the international bond market on Wednesday, closing the biggest Indian bank issue this year after giving investors an extra day to examine the credit.
Barclays Capital, Citi, Deutsche Bank, Standard Chartered and UBS priced the 5.5 year deal to yield 310bp over Treasuries, at the tight end of price guidance set between 310bp and 320bp.
The lead managers had approached investors with whispers of the low 300s over Treasuries on Tuesday, and had
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