New Issue: Union Bank of India sells $350 million 4½% notes due 2019 at 280 bps over Treasuries

By Christine Van Dusen

Atlanta, April 22 - Union Bank of India priced $350 million 4½% notes due Oct. 28, 2019 (expected ratings: Baa3/BBB-/) at 99.764 to yield 4.549%, or Treasuries plus 280 basis points, a market source said.

BofA Merrill Lynch, BNP Paribas, Citigroup, JPMorgan and Standard Chartered Bank were the bookrunners for the Regulation S deal.

Union Bank of India is a lender based in Mumbai.

Issuer:	Union Bank of India
Amount:	$350 million
Maturity:	Oct. 28, 2019
Description:	Senior notes
Bookrunners:	BofA Merrill Lynch, BNP Paribas, Citigroup, JPMorgan and Standard Chartered Bank
Coupon:	4½%
Price:	99.764
Yield:	4.549%
Spread:	Treasuries plus 280 bps
Trade date:	April 22
Settlement date:	April 28
Expected ratings:	Moody's: Baa3
	Standard & Poor's: BBB-
Distribution:	Regulation S

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