Thursday, 15 February 2018

Yes Bank lists $600 mn bond on India INX

Lender Yes Bank on Wednesday announced the listing of its debut $600 million bond issue on the India International Exchange (India INX).

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According to the company, the issue comes under its maiden $1 billion medium term note (MTN) programme on the global securities market.

"The MTN bonds issuance received an overwhelming response from international investors and saw a final order book, at a spread of 130 basis points, being oversubscribed," the bank said in a regulatory filing to the Bombay Stock Exchange.

In terms of investor type, "the split was 46 per cent to asset managers, 38 per cent to banks, 11 per cent to insurance companies and 5 per cent to private banks".

The bank said that it will use the proceeds to fund the banks's IFSC (International Financial Services Centre) Baking Unit (IBU) in Gift City.

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