YES BANK raises $400 million through syndicated loan transactions

COIMBATORE: YES BANK, India’s fifth largest private sector bank, is raising $400 million through two syndicated loan transactions in Taiwan and Japan—comprising $250 million from Taiwanese banks and 16.5 billion Yen ($150 million) 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 $200 million with a green-shoe option, saw a total subscription of $355 million from 13 banks apart from the four mandated lead arrangers, amongst the largest bank participation in a Taiwan loan transaction.
The issue was closed with the loan being upsized to $250 million. This is YES BANK’s second such strategic loan syndication transaction in Taiwan after a successful maiden transaction in 2016 for a 5-year, $130 million syndicated loan which saw participation from 10 banks including the mandated lead arrangers – CTBC Bank and Taiwan Cooperative Bank.
YES BANK also raised its maiden Samurai loan for one-year, the syndication for which was solely led by Bank of Tokyo Mitsubishi as mandated lead arranger and book runner. The issue was successfully closed with oversubscription and saw total participation of 16.5 billion Yen across 8 banks.
“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,” said Rana Kapoor, MD and CEO, YES BANK.
“Our maiden Samurai transaction in Japan and strategic syndications in Taiwan demonstrate the bank’s ability to tap varied resource pools at competitive prices,” he said.