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Yes Bank has raised USD 600 million from issue of bond in the international debt market. The proceeds from the issue will be utilized to fund the bank’s IFSC banking unit (IBU) in Gift City and expand IBU’s quickly growing business opportunities.
The bond issuance is for a period of 5 years and is rated Baa3 by Moody’s Investors Services. This issue is under their USD 1 billion MTN programme.
The bond will be listed on the London Stock Exchange International Securities market, the Singapore Exchange Securities Trading, and the India International Exchange IFSC at GIFT city, Gandhinagar.
Further, Rana Kapoor, MD & CEO, Yes Bank stated, “This landmark issue is the first foreign currency bond offering by Yes Bank under our newly established MTN program, and the significant over-subscription as well as high quality investor base is testament to the commitment reposed by global investors in the bank.”
