YES Bank, the fourth largest private sector lender in the country, today said it has raised syndicated loans of $155 million and Euro 50 million from 14 banks across nine countries. The funds will be used for general corporate purposes and trade finances in India.
The private lender did not share details on pricing of these loans. The loans have a maturity of one year.
Bank Muscat SAOG, Citigroup Global Markets Asia, Commerzbank Aktiengesellschaft, Doha Bank QSC, Standard Chartered Bank, State Bank of India, Hongkong and Shanghai Banking Corporation, Royal Bank of Scotland and Wells Fargo Bank managed this dual currency transaction.
"This is a significant commitment from global banks, reinforcing our unique financial and business model and the faith and trust reposed in the management team of YES Bank," Rana Kapoor, founder, managing director and chief executive of the bank, said in a statement.