August 8, 2012 / 7:11 AM / in 5 years

India's IDBI eyes Singapore dollar bond-source

MUMBAI, Aug 8 (Reuters) - 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

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