Issue of Debt

26 Jun 2007 14:56

UTI Bank Limited26 June 2007 UTI Bank raises Upper Tier -II Capital from International Market UTI Bank has raised USD 60 million of hybrid capital through the issuance ofUpper Tier -II in the international market as a part of its MTN programme forEuro 2 billion. It had earlier raised USD 150 million through the issuance ofUpper Tier II bonds in August 2006 and Hybrid Tier - I bonds of USD 46 millionin November 2006. BNP Paribas, Singapore has acted as the sole arranger for thistransaction. Transaction Details: • Amount: USD 60 million • Security: 15 NC 10 Upper Tier -II Subordinated Debt. • Security Ratings: Baa2 (Moodys) • Maturity Date: 28 June 2022 • Issuer Call Option : At par on 28 June 2017 and every coupon date thereafter. • Coupon: 7.1250 % • Yield to Investor : 7.1780 % • Re-offer Spread tp Mid Swap : 10 yr USD Mid Swap + 145 Bps • Re-offer Spread to Benchmark: 10 yr US Treasury + 203.4 Bps • Step-Up: Floating rate step-up of 245 bps over 6 month USD Libor. • Trade Date: 19 June 2007 • Settlement Date: 28 June 2007 This information is provided by RNS The company news service from the London Stock Exchange