Private sector lender Yes Bank on Tuesday said it has raised $400 million (about Rs 2,895 crore) from a group of lenders, adding that the funds will be used to support its growing business.
Rana Kapoor, managing director and CEO, Yes Bank, said in an exchange filing
that the funds, raised through a syndicated loan facility, reinforces the bank’s ability to raise substantial foreign currency resources through various product instruments at a competitive price. “Yes Bank’s IBU has crossed $3 billion balance sheet within three years of starting operations at GIFT City,” he said.
GIFT City is a financial centre based in Gandhinagar in Gujarat.
The bank said that it has formed a 3 year loan facility in a syndication with Bayerische Landesbank, Commerzbank, CTBC Bank, First Abu Dhabi Bank PJSC, Korea Development Bank, State Bank of India, United Overseas Bank Limited and Westpac Banking Corporation.
German banker Landesbank Baden-Wurttemberg acted as a mandated lead arranger and book-runner whereas Export – Import Bank of the Republic of China, US-based First Commercial Bank and Taiwanese banker Sunny Bank Limited acted as mandated lead arrangers.
Earlier, Yes Bank had raised $400 million through two syndicated loan facilities in Taiwan and Japan, which saw subscriptions from eight banks and comprised of $250 million from Taiwanese banks and about $150 million from Japanese banks.
First Published: Sept 11, 2018 11:04 AM IST
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