Mumbai, March 31, 2014:YES BANK, India’s fourth largest private sector Bank, has recently raised additional USD 34 million from DEG, through a long term senior loan agreement for a tenor of 6 years.
This loan arrangement follows YES BANK raising dual tranche USD 150 million from IFC, Washington, a member of the World Bank Group, for tenor of 2 and 7 years, in December 2013. YES BANK was the first institution globally to receive funding through IFC’s Managed Co-Lending Portfolio Program and the first Indian bank to raise loan under IFC’s A/B loan facility.
By utilising the liberalised regulations of the RBI in raising the FCY borrowings limit from 50% to 100% of Tier I capital and the concessional FCNR (B) deposit swap window, YES BANK has closed the Financial Year 2013-14 with USD 500 million raised in longer term FCY loan and FCNR funds. The loan facilities are being used by YES BANK to scale up its general corporate lending and small and medium enterprise loan portfolios.
The Multi-currency dual tenor tranche FCY syndicated loan of USD 180 million/EUR 58 million raised by YES BANK, during the FY 2013-2014, was also recognised as the “Financial Institutions Syndicated Deal of the Year 2013” by the Asia Pacific Loan Market Association (APLMA) for the second consecutive year.
On the closure of this landmark year for YES BANK, Mr. Rana Kapoor, Managing Director & CEO, YES BANK, said, “We are pleased to receive the prestigious APLMA award for the second year running. Recognitions by such reputed international organizations reinforce the significant trust & commitment reposed by global institutions in our unique financial and business model. We are pleased that by utilizing the liberalized borrowing regulations of the RBI, we have raised USD 500 million in longer tenure FCY loan and FCNR funds in FY2013-14”.
About YES BANK LIMITED
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the vision of “Building the Best Quality Bank of the World in India by 2020”.
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