The issue was closed with the loan being upsized to $250 million.
NEW DELHI: Private sector lender YES Bank on Tuesday announced that it is raising $400 million through two syndicated loan transactions in Taiwan and Japan – comprising of $250 million from Taiwanese banks and 16.5 billion yen (around $150 million) from Japan.
The country’s fifth largest private sector bank has successfully tied up five-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 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 five years, $130 million syndicated loan, which saw participation from 10 banks, including the mandated lead arrangers- CTBC Bank and Taiwan Cooperative Bank.
Shares of YES Bank were trading 1.37 per cent up at Rs 317.50 around 11.53 am (IST). The scrip opened at Rs 316.75 and touched a high and low of Rs 318 and Rs 314.25, respectively, in trade so far. Benchmark BSE Sensex was up 144 points, or 0.43 per cent, at 33,504 at around the same time.