State Bank of India prices re-issued bond: Source

Hong Kong, Jan 16: State Bank of India , priced a re-issued floating rate note due in 2011 at 45 basis points above London Interbank Offered Rate (LIBOR), the tight end of the indicated range, a source close to the deal said.

The transaction raised 0 million after an indicated yield range of 45 to 47 bps was set by India's largest bank. Arranged solely by Deutsche Bank , the issue received orders worth more than 0 million.

International investors are keen on means to access Indian assets with a view to ride the success of an economy expanding at more than 9 percent annually.

Last week, a Hong Kong, Jan 16: State Bank of India , priced a re-issued floating rate note due in 2011 at 45 basis points above London Interbank Offered Rate (LIBOR), the tight end of the indicated range, a source close to the deal said.

The transaction raised $200 million after an indicated yield range of 45 to 47 bps was set by India's largest bank. Arranged solely by Deutsche Bank , the issue received orders worth more than $400 million.

International investors are keen on means to access Indian assets with a view to ride the success of an economy expanding at more than 9 percent annually.

Last week, a $2 billion bond issue from ICICI Bank , the country's second-biggest lender, attracted orders of about $8 billion. Spreads on these bonds have tightened from the issue levels as investors bought in secondary market deals.

REUTERS billion bond issue from ICICI Bank , the country's second-biggest lender, attracted orders of about billion. Spreads on these bonds have tightened from the issue levels as investors bought in secondary market deals.

REUTERS