Yes Bank raises USD 400 million through syndicated loan facility
.jpg)
New Delhi: Private sector lender Yes Bank Tuesday said it has raised USD 400 million (approx Rs 2,894 crore) through syndicated loan facility, borrowed out of its IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT).
The bank said this amount will be utilised to support the IBU's growing business.
"The bank has tied up a three-year loan facility in a syndication led by Bayerische Landesbank, Commerzbank, CTBC Bank, First Abu Dhabi Bank PJSC, Korea Development Bank, State Bank of India, United Overseas Bank Ltd and Westpac Banking Corporation, ensuring representation from a diverse set of countries across Europe, Middle East, Asia and Asia-Pacific," Yes Bank said in a statement.
Yes Bank Managing Director and CEO Rana Kapoor 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....we remain committed to expanding our international operations, as well as deepening our offerings," 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.
Shares of Yes Bank were trading 0.32 per cent lower at Rs 322.70 apiece on BSE.
Other Latest News
.webp)
As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
.webp)
The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
.webp)
Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
.webp)
Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
.webp)
.webp)
.webp)
.webp)
