Khaitan & Co and Linklaters advised RBL Bank on its US$1 billion MTN Programme and debut US$350 million bond issuance.
RBL Bank Limited established its maiden US$1 billion Medium Term Note Programme and issued its debut US$350 million 5.791% fixed-rate senior unsecured notes due 2031 under the programme pursuant to Regulation S of the U.S. Securities Act, 1933. The notes are expected to be listed on India International Exchange (IFSC) Limited and NSE IFSC Limited in GIFT City.
The proceeds will be used to meet the funding requirements of RBL Bank’s International Banking Unit in GIFT City, support the development and expansion of its business there, and for general corporate purposes.
The transaction is also RBL Bank’s first bond issuance following Emirates NBD Bank PJSC’s acquisition of a majority stake in the bank. It involved coordination with Emirates NBD in the United Arab Emirates, reflecting the cross-border nature of the transaction across India, Singapore and the UAE.
Khaitan & Co advised RBL Bank on the said transaction.
The team comprised Manisha Shroff, Mohit Nad, Mayank Chaturvedi, Satyawati Sinha, and Shravasti Yadav, with assistance from Rahul Jain (Direct Tax).
Linklaters also advised RBL Bank Limited (RBL Bank).
The Linklaters team was led by Partner and Head of India Practice Amit Singh, with support from Capital Markets Counsel Grace Yumul-Villanueva, Managing Associate Daryl Bryan Chee and Associate Putri Meisita Kusuma.
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