Mumbai, Sep 11 (UNI) Private sector Lender YES BANK, said it has taken a syndicated loan of USD 400 million loan facility from a syndicate led by 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.
The money was borrowed out of the Bank’s IFSC Banking Unit in Gujarat International Finance Tec City (GIFT) and will be utilized to support the unit’s growing business,Yes bank release said.
The loan has been underwritten by a group of eight Mandated Lead Arrangers and Book - runners (MLABs) with further participation from four bank.
Landesbank Baden-Wurttemberg acted as Mandated Lead Arranger (MLAs) to the facility whereas First Commercial Bank, Export-Import Bank of the Republic of China and Sunny Bank Limited acted as Arrangers.
Rana Kapoor, Managing Director & CEO of the bank said the IFSC Banking Unit has crossed $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 asdeepening our offerings at the YES BANK IBU at GIFT City.' he added.
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.
YES BANK had earlier this year listed its debut USD 600 million bond issue at India’s first International Stock Exchange sponsored by BSE at GIFT City.
'The IBU thereby has emerged as a significant strategic addition to the Bank’s business model and is helping in further diversification and expansion of cross border asset products as well as widening the scope and depth of the liabilities base,' release added.
UNI JS JA 1303