Yes Bank ties up syndicated loan facility
02 August 2012
Yes Bank, the country's fourth-largest private sector bank, has tied up a dual currency - $155 million and € 50 million - syndicated loan facility that will be used for general corporate purposes and trade finance.
''This is a significant commitment from global banks, reinforcing our unique financial and business model and the faith and trust reposed in the management team of Yes Bank,'' Yes Bank managing director and CEO Rana Kapoor said.
The facility has a maturity of 1 year. The loan has been widely distributed, with commitments received from 14 banks representing 9 countries.
The lead arrangers and book runners on the transaction were Bank Muscat SAOG, Citigroup Global Markets Asia Limited, Commerzbank Aktiengesellschaft, Doha Bank QSC., Standard Chartered Bank, State Bank of India, The Hongkong and Shanghai Banking Corporation Limited, The Royal Bank of Scotland N.V. and Wells Fargo Bank, National Association.
The bank said that the loan had an "extremely positive" response in general syndication, leading it to upsize from an initial amount of $140 million and euro 32 million.
The loan has been widely distributed, with commitments being received from 14 banks representing nine countries.