YES Bank raises $422 million Dual Currency Multi-tenor Syndicated Loan Facility

YES BANK, India’s fourth largest private sector Bank, has successfully raised equivalent of $422 million ($288 million and 103.5 million euro) by way of Dual Currency Multi-tenor Syndicated Loan Facility. The said Facility shall be utilized for general corporate purposes.

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 facility was launched in August 2014 as $275 million plus a Green Shoe Option and witnessed strong book building. The bank decided to close the book once it crossed the $400 million mark, which was within the comfort level of the Green Shoe amount.