YES Bank establishes MTN programme on GSM of India INX

YES Bank has become the first bank to establish the Medium Term Notes (MTN) programme on the Global Securities Market (GSM) at the BSE's India International Exchange (India INX), the bank said in a corporate filing today.

YES Bank's USD one billion MTN programme marks a major milestone in India's IFSC Mission at the GIFT City.

"YES BANK is pleased to become the first to establish a MTN Programme on the India INX at the GIFT City IFSC and build on our success as the first IBU to start operations in the GIFT City. India INX has established itself as a state-of-the-art platform offering enhanced ease of doing business along with robust, transparent regulatory environment on-par with global markets. The Global Securities Market platform will further India's credentials as an attractive destination for global investors allowing issuers to attract a larger pool of investors," Rana Kapoor MD and CEO, YES Bank said.

Global Securities Market went live on December 08, 2017 after receiving approval from Securities and Exchange Board of India and publication of debt listing framework by India INX. It is the latest addition to India INX's existing derivatives platform which offers a single derivatives segment to trade across asset class, viz.; currency, commodity, equity and index derivatives.

"We are delighted to have the first primary listing at India INX and extend a warm welcome to YES BANK on establishing its USD 1 billion Medium Term Note programme with us. YES BANK has been the first IFSC Banking Unit to set up at GIFT City and India INX, the first International Exchange to kick-start operations in GIFT City," said V.Bala, MD and CEO of India INX.

YES Bank in an earlier intimation to Stock Exchanges on December 23 had said that the establishment of the MTN Programme is only an enabling step and presently no instruments are being issued by the Bank.