RBL Bank to raise up to USD 1 bn from overseas investors
RBL Bank's board has given the green light to raise up to one billion US dollars from foreign investors via a Euro Medium Term Note Programme. The bank's borrowing committee is entrusted with overseeing all vital steps required for this initiative. This decision comes on the heels of Emirates NBD Bank acquiring a controlling sixty percent stake in RBL Bank's enhanced share capital.
Canara Bank and Bank of Maharashtra will raise $500 million each through dollar bonds. These lenders will issue three-year or five-year papers under a concessional swap window. This move aims to lower the cost of hedging currency exchange rate risks. Bank of Maharashtra is making its debut issuance, while Canara Bank has issued before. Both debt sales are anticipated to be completed during the month of September.
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