MUMBAI Aug 8 India's IDBI Bank has
picked three banks for a potential offshore bond issue, three
sources with direct knowledge of the matter said on Wednesday,
with one saying the bank is eyeing a Singapore dollar offering.
IDBI has chosen DBS, HSBC and Standard
Chartered for a non-deal roadshow scheduled for August
14-15, the sources said. A deal could follow subject to market
conditions, they added.
A benchmark Singapore dollar deal is typically in the range
of S$150 million-S$200 million ($120.6 million-$160.8 million).
In March, IDBI priced a three and half year Swiss franc bond
issue at mid-swaps plus 274 basis points, and raised 110 million
Swiss francs ($113.71 million).
($1 = S$1.2436)
($1 = 0.9674 Swiss francs)
(Reporting by Archana Narayanan; Editing by Tony Munroe)