News Digest

30 November 2017
Yes Bank sets up $1 billion debt programme to rais

Yes Bank Ltd's board on Wednesday approved the setting up of a $1 billion medium-term note (MTN) programme, enabling the bank to raise funds in one or more tranches, an exchange filing by the lender showed. Under the MTN programme banks can sell debt securities, usually maturing between 5 and 10 years, in the overseas market and secure cheaper funding, according to analysts. Yes Bank is among the many Indian lenders that have tapped the overseas market for funds, including borrowings from commercial banks and multilateral agencies. Earlier this month, Yes Bank raised a total of $400 million through two syndicated loan transactions in Japan and Taiwan. “With these syndications Yes Bank has also demonstrated its ability to leverage new geographies and currencies to fund the bank's expanding franchise at Yes Bank's International Business Unit (IBU) at GIFT City (Gujarat International Finance Tec-City),” the bank said in release dated 21 November.

Read More