Private sector lender Yes Bank raised equivalent of $422 million ($288 million and €103.5 million) (about Rs 2569 crore) by way of dual currency multi-tenor syndicated loan facility. The said facility shall be utilised for general corporate purposes.
“The facility has a maturity of 1, 2 and 3 years. The loan has been widely distributed, with commitments being received from 21 banks, representing 14 countries across the US, Europe, Africa, Middle East, Japan, Taiwan & Australia, with larger commitment coming in the 2 & 3 year tranches,” the bank said in a statement.
The facility was launched in August 2014 as $275 million plus a Green Shoe Option and witnessed strong book building. Yes Bank decided to close the book once it crossed the $400 million mark, which was within the comfort level of the Green Shoe amount.
Rana Kapoor, Managing Director and CEO, Yes Bank said, “This is a significant commitment from global banks, reinforcing our differentiated business and financial model as well as reflecting faith and trust reposed in
Yes Bank. We are particularly pleased to receive commitments from such a diverse group of banks globally and simultaneously being able to elongate the tenure on our loan at competitive pricing.”