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Private sector lender Yes Bank today said it has tied up a loan facility equivalent to $255 million in dual currency from international lenders.
The syndicated loan facility comprises $180 million and Euro 58 million, the bank said in a statement.
The loans will be utilised for corporate purposes and for trade finance, it said.
The commitments, which have a maturity of 1 and 2 years, have come from 11 banks in eight countries across US, Europe, Middle East and Australia, it said.
The statement said the recent Reserve Bank move on offering a swap facility to banks for their foreign borrowings at 1 percentage point below the market rate will reduce the landed rupee cost of the loan and make it competitive as against rupee borrowings of the same maturity.
A clutch of banks, including the country's largest lender State Bank of India and international ones like ANZ Banking Group and HSBC, played the lead arrangers and book-runners for the transaction, the statement said.
The bank scrip was trading 2.13% up at Rs 297.90 a piece on the BSE, whose 30-share benchmark was trading down 0.11% at 1330 hours.
