Indian Lender Yes Bank Ltd is currently looking into a two-part loan that will secure US$250 million to refinance the company's debt. The debt facility, which will be denominated in dollars and in euros, is similar to the debt refinancing raised in 2012.
Jaideep Iyer, Yes Bank group president for financial management and deputy chief financial officer said today in a phone interview that they debt facility will be comprised of one-year and two-year maturities.
Iyer said, "We have an international rating and so have enough appetite to fill this up. Modalities are getting worked out. It's on the verge."
Iyer added that the loan facility is set for completion this month. Yes Bank Ltd currently holds an estimated US$1.1 billion worth of outstanding loans and bonds. The Indian lender raised an estimated US$216 million dollar and euro-denominated loans last year. Among the lenders were Royal Bank of Scotland Group Plc, HSBC Holdings Plc, State Bank of India (SBIN) and Standard Chartered Plc.
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