YES Bank to raise funds via green bonds in LSE
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Private sector lender YES Bank has signed a memorandum of understand with the London Stock Exchange (LSE) for bonds and equity issuance. The focus of these issuances will be on green infrastructure bonds.
As part of this agreement, the lender plans to list a green bond of up to $500 million on the LSE by December 2016. Apart from this, it plans to raise capital overseas by listing global depository receipts. This is a part of the bank’s overall plan to raise $1 billion of equity capital.
“We will endeavour to improve access to long-term overseas funds for corporates in India, through capital markets in the UK, particularly towards green infrastructure financing, which is high on India’s agenda. We also look forward to working with the LSE in establishing London as the leading centre for rupee-denominated offshore capital raising,” said Rana Kapoor, managing director and chief executive officer, YES Bank.
In August this year, International Finance Corporation, supported by YES Bank, listed a Rs 315-crore green bond on the LSE.
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