RBL Bank to raise up to $1 bn from overseas investors through bond issuance

Private lender RBL Bank on Monday said its board approved the mobilisation of up to USD 1 billion from overseas investors through bond issuance.

The board approved the establishment of a Euro Medium Term Note Programme (EMTN Programme) in accordance with Regulation S of the US Securities Act, 1933, subject to regulatory, statutory and other approvals, RBL Bank said in a stock exchange filing.

The board cleared a proposal to enable issuance of foreign currency bonds/notes/any other debt securities up to USD 1 billion in the future, from time to time, through one or more transactions, subject to the market conditions and regulatory compliances, for raising funds through permissible modes under the EMTN Programme, the bank said.

The private lender informed the stock exchanges that the board also gave the go-ahead to delegate certain powers and authorities to the bank's Borrowing Committee to decide and undertake all necessary actions in connection with the EMTN Programme and the issuan