- USD 250 Mn in Taiwan from 17 Banks, amongst the largest bank participation in a Taiwan loan transaction
- JPY 16.5 Bln (~USD 150 Mn) via YES BANK’s Maiden Samurai Loan Transaction in Japan
Mumbai, November 21, 2017: YES BANK, India’s fifth largest private sector bank is raising USD 400 Mn through two Syndicated loan transactions in Taiwan and Japan - comprising of USD 250 Mn from Taiwanese banks and JPY 16.5 Bn (~USD 150 Mn) from Japan.
YES BANK has successfully tied up 5-year commercial loan in a syndication led by CTBC Bank, Bank of Taiwan, Mega International Commercial Bank and Land Bank of Taiwan. The syndication which was announced for an initial size of USD 200 Mn with a green-shoe option saw a total subscription of USD 355 Mn from 13 banks apart from the 4 mandated lead arrangers, amongst the largest bank participation in a Taiwan loan transaction. The issue was closed with the loan being upsized to USD 250 Mn. This is YES BANK’s second such strategic loan syndication transaction in Taiwan after a successful maiden transaction in 2016 for a 5 year, USD 130 Mn syndicated loan which saw participation from 10 banks including the mandated lead arrangers – CTBC Bank and Taiwan Cooperative Bank.
Continuing with forging successful loan syndications in global markets, YES BANK also raised its maiden Samurai loan for one year, the syndication for which was solely led by Bank of Tokyo Mitsubishi UFJ, Ltd. (“MUFG”) as mandated lead arranger and bookrunner. The issue was successfully closed with oversubscription and saw total participation of JPY 16.5 Bn (~USD 150 Mn) across 8 banks.
Commenting on the development, Mr. Rana Kapoor, MD & CEO, YES BANK said, “YES BANK’s continued success in loan syndications with global banks and financial institutions reinforces the bank’s established competence in raising diversified liabilities from Multilaterals and the bilateral and commercial loan markets, based on our robust business and financial model. Our maiden Samurai transaction in Japan and strategic syndications in Taiwan demonstrate the Bank’s ability to tap varied resource pools at competitive prices.”
With these syndications YES BANK has also demonstrated its ability to leverage newer geographies and currencies to fund the bank’s expanding franchise at YES BANK’s International Business Unit (IBU) at the GIFT City IFSC in Gandhinagar. YES BANK’s IBU continues to be the largest at GIFT City with an asset book of over USD 1.4 Bn as on 30th September, 2017.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/