Yes Bank is among the many Indian lenders that have tapped the overseas market for funds. Photo: Abhijit Bhatlekar/MintMumbai: Yes Bank Ltd’s board on Wednesday approved the setting up of a $1 billion medium-term note (MTN) programme, enabling the bank to raise funds in one or more tranches, an exchange filing by the lender showed. Yes Bank is among the many Indian lenders that have tapped the overseas market for funds, including borrowings from commercial banks and multilateral agencies. Earlier this month, Yes Bank raised a total of $400 million through two syndicated loan transactions in Japan and Taiwan. “With these syndications Yes Bank has also demonstrated its ability to leverage new geographies and currencies to fund the bank’s expanding franchise at Yes Bank’s International Business Unit (IBU) at GIFT City (Gujarat International Finance Tec-City),” the bank said in release dated 21 November.

Source: Mint November 29, 2017 15:45 UTC