Yes Bank, a private sector moneylender has tied up a loan facility from lenders overseas of around $255 million. The loan facility comprises of Euro 58 million and $180 million which will be used for trade finances and corporate purposes as per a statement. The maturity of the commitments is for 1 to 2 years which has been provided by 11 banks in eight countries across Europe, Australia, US and Australia.
The RBI's recent move of swap facility provided to banks to borrow at a percentage lower than the market rate makes it competitive.
State Bank of India, India's biggest lender as well as international banks like HSBC and ANZ banking Group are the lead book runners and arranges for such transactions. The trading script in the afternoon of Yes Bank on BSE was up at Rs. 297.90 per piece and on Sensex, it was down by 0.11 per cent.