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26 February, 2020 03:35 IST
Yes Bank raises USD 400 mn through syndicated loan facility
Source: IRIS | 11 Sep, 2018, 09.39AM
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Yes Bank has successfully closed a competitively priced USD 400 million syndicated loan facility, borrowed out of the Bank's IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT) and will be utilized to support the IBU's growing business.

The Bank had also recently raised USD 400 million through two Syndicated loan transactions in Taiwan and Japan, comprising of USD 250 million from Taiwanese banks and JPY 16.5 billion (USD 150 million) from Japan in November, 2017 followed by a USD 300 million syndicated loan transaction completed in July 2018 which saw subscription from eight banks.

Rana Kapoor, Managing Director & CEO, YES BANK (Q,N,C,F)* said, ''The USD 400 million loan syndication 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 USD 3 billion balance sheet within three years of starting operations at GIFT City. As the 1st Bank to have begun operations at GIFT City, we remain committed to expanding our international operations, as well as deepening our offerings at the YES BANK IBU at GIFT City.''

Shares of the bank gained Rs 1.2, or 0.37%, to trade at Rs 324.95. The total volume of shares traded was 237,095 at the BSE (9.31 a.m., Tuesday).



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