UTI Bank Limited
26 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 of
Upper Tier -II in the international market as a part of its MTN programme for
Euro 2 billion. It had earlier raised USD 150 million through the issuance of
Upper Tier II bonds in August 2006 and Hybrid Tier - I bonds of USD 46 million
in November 2006. BNP Paribas, Singapore has acted as the sole arranger for this
• 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
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