Yes Bank today said it has listed USD 600 million bond issued under its maiden USD 1 billion MTN programme, on Global Securities Market (GSM) of India INX.
India INX is the country's first international exchange, located at International Financial Services Centre, GIFT City in Gujarat.
The MTN (medium term note) bonds issuance received an overwhelming response from international investors and saw a final order book, at a spread of 130 basis points, being oversubscribed by over 1.83 times from over 90 accounts, Yes Bank said in a statement.
The listing ceremony was presided over by Gujarat Chief Minister Vijay Rupani who also inaugurated the bank's new IFSC office in the GIFT City in the presence of J N Singh, Chief Secretary of Gujarat and Sudhir Mankad, GIFT City Chairman.
"The bank will use the proceeds to fund the bank's IFSC Banking Unit (IBU) in Gift City and expand IBU's rapidly growing business opportunities," Yes Bank CEO Rana Kapoor said.
IFSC received a major boost in the Union Budget with the proposed unified regulator and enabling tax benefits, he said.
Welcoming the first international bond issuance of the bank, India INX CEO V Bala said: "We are clearly observing an uptick in the interest that IFSC in India is gathering for its product basket from foreign players.
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