YES Bank, India’s fifth largest private sector bank is raising US$400 mn through two Syndicated loan transactions in Taiwan and Japan- comprising of USD 250 mn from Taiwanese banks and JPY 16.5 Bn (~USD 150 Mn) from Japan.
YES BANK has successfully tied up 5-year commercial loanin 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 USD 200 Mn with a green-shoe option saw a total subscription of USD 355 Mn from 13 banks apart from the 4 mandated lead arrangers, amongst the largest bank participation in a Taiwan loan transaction. The issue was closed with the loan being upsized to USD 250 mn.
This is the bank’s second such strategic loan syndication transaction in Taiwan after a successful maiden transaction in 2016 for a 5 year, USD 130 Mn syndicated loan which saw participation from 10 banks including the mandated lead arrangers – CTBC Bank and Taiwan Cooperative Bank.
The bank also raised its maiden Samurai loan for one year, the syndication for which was solely led by Bank of Tokyo Mitsubishi UFJ, Ltd. (“MUFG”) as mandated lead arranger and bookrunner. The issue was successfully closed with oversubscription and saw total participation of JPY 16.5 Bn (~USD 150 Mn) across 8 banks.
Rana Kapoor, MD & CEO, YES BANK said, “YES BANK’s continued success in loan syndications with global banks and financial institutions reinforces the bank’s established competence in raising diversified liabilities from Multilaterals and the bilateral and commercial loan markets, based on our robust business and financial model. Our maiden Samurai transaction in Japan and strategic syndications in Taiwan demonstrate the Bank’s ability to tap variedresource pools at competitive prices.”