9th Nov 2006 14:04
UTI Bank Limited09 November 2006 RAISING OF HYBRID TIER I BONDS/NOTES UNDER THE MEDIUM TERM NOTE PROGRAMME We enclose a copy of the Press Release issued by our Bank in respect of Raisingof USD 46 million of Hybrid Tier I bonds/notes in the international market. Press Release For Immediate Publication UTI Bank raises Hybrid Tier I Capital from International Market UTI Bank has raised USD 46 million of capital through the issuance of HybridTier - I bonds in the international market today as a part of its MTN programmefor Euro 1 billion. It had earlier raised USD 150 million through the issuanceof Upper Tier II bonds in August 2006. Transaction highlights: • 1st and the only bank in India so far to have raised capital through both Hybrid Tier-I and upper Tier-II Instruments in foreign currency. • Second International Hybrid Debt offering by UTI Bank following the successful issuance of 15-year subordinated Upper Tier II bond. The current issuance, Hybrid Tier -I, is a perpetual bond with a call option at the end of 10 years. • Transaction tightly priced at 7.1670 % (equivalent to around L+179 bps over 6 months LIBOR) as on 8 November 2006. • Sole lead managers for the issue - Barclays Capital. Transaction Details: • Amount: USD 46 million• Security: Perpetual NC 10 Hybrid Tier - I Debt• Security Ratings: Ba1(Moodys)• Maturity Date: Perpetual• Call Date: 16 November 2016• Coupon: 7.1670 %• Yield: 10 yr T + 252.2 bps• Step-Up: Priced with a fixed rate coupon of 7.1670 % (equivalent to 200 bps over Mid-Swaps) plus a step up of 100 bps at the end of 10 years.• Trade Date: 09 November 2006• Settlement Date: 15 November 2006 For further information please contact: Himadri ChatterjeeVice President - UTI BankMobile : 9821524550. Dated : 9th November, 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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