Yes Bank, India’s fourth biggest private lender, plans to raise $400-$500 million through a medium-term note issue, following its entry in the UAE, a top official said.
The bank, which has been invited by the Dubai International Financial Centre (DIFC) to start operations, is awaiting the Reserve Bank of India’s approval to open its first overseas branch outside the country.
“We expect to start operations in the UAE within this year,” Dr. Rana Kapoor, Managing Director and Chief Executive Officer of Yes Bank, told Gulf News. “Following this, we would like to raise funds between $400 million to $500 million through a medium term note issue that will support businesses in the region.”
Yes Bank to raise $500 million funds in the UAE | GulfNews.com
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