YES Bank, India’s fourth largest private sector Bank, has raised $150 million from IFC, Washington a member of the World Bank Group, for tenor of up to 7 years. The loan will be used by the bank to scale up its small and medium enterprise loan portfolio.
The financing package to the bank includes $45 million provided through IFC’s new co-lending program in addition to IFC’s own account loan of $60 million, both for a period of 7 years; and another $45 million syndicated loan provided by Intesa Sanpaolo, Bank Muscat, Doha Bank & AKA Frankfurt for a tenor of 2 years. The bank has swapped the said loan with RBI through the concessional swap window offered to banks.
YES Bank is the first institution globally to receive funding through IFC’s Managed Co-Lending Portfolio Program and also the first Indian bank to raise loan under IFC’s A/B loan facility. The IFC Managed Co-Lending Portfolio Program is a new syndications platform that offers institutional investors the ability to passively participate in IFC’s future senior loan portfolio.
The financing package to the bank includes $45 million provided through IFC’s new co-lending program in addition to IFC’s own account loan of $60 million, both for a period of 7 years; and another $45 million syndicated loan provided by Intesa Sanpaolo, Bank Muscat, Doha Bank & AKA Frankfurt for a tenor of 2 years. The bank has swapped the said loan with RBI through the concessional swap window offered to banks.
YES Bank is the first institution globally to receive funding through IFC’s Managed Co-Lending Portfolio Program and also the first Indian bank to raise loan under IFC’s A/B loan facility. The IFC Managed Co-Lending Portfolio Program is a new syndications platform that offers institutional investors the ability to passively participate in IFC’s future senior loan portfolio.
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