Yes Bank raises USD 422 mn Dual Currency Multi-tenor Syndicated Loan Facility
The said facility shall be utilized for general corporate purposes.
On the successful completion of the transaction, Rana Kapoor, Managing Director & CEO, Yes Bank said, “This is a significant commitment from global banks, reinforcing our differentiated business and financial model as well as reflecting faith and trust reposed in Yes Bank. We are particularly pleased to receive commitments from such a diverse group of banks globally and simultaneously being able to elongate the tenure on our loan at competitive pricing.”
The facility has a maturity of 1, 2 and 3 years.
The loan has been widely distributed, with commitments being received from 21 banks, representing 14 countries across the US, Europe, Africa, Middle East, Japan, Taiwan & Australia, with larger commitment coming in the 2 & 3 year tranches.
The Initial Mandated Lead Arrangers and Book-runners (IMLABs) on the transaction are ANZ Banking Group Limited, Bank Muscat S.A.O.G., Commercial Bank of Qatar Q.S.C, Commerzbank Aktiengesellschaft, Emirates NBD Capital Limited, First Gulf Bank PJSC, The Hongkong and Shanghai Banking Corporation Limited, National Bank of Abu Dhabi PJSC, Shinsei Bank Limited, State Bank of India and Wells Fargo Bank, National Association and the facility is coordinated by Emirates NBD Capital Limited.
Arab Banking Corporation (B.S.C.), Citibank, N.A., Doha Bank Q.S.C and Landesbank Baden-Württemberg (Singapore Branch) acted as Mandated Lead Arrangers (MLAs) to the Facility.
The lead arangers are AfrAsia Bank Limited and Commercial Bank of Dubai PSC. The Arrangers are IntesaSanpaoloS.p.A. (Singapore Branch), Oberbank AG, The Shanghai Commercial and Savings Bank, Ltd. (Offshore Banking Branch) and UBI Banca International S.A.
The facility was launched in August 2014 as USD 275 million plus a Green Shoe Option and witnessed strong book building. YES BANK decided to close the book once it crossed the USD 400 million mark, which was within the comfort level of the Green Shoe amount.
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