RBL Bank has announced the approval and allotment of U.S.$350,000,000 (350 Million US Dollars) Senior Unsecured Notes. These notes carry a fixed interest rate of 5.791% and are due in 2031. This issuance is part of the bank’s established U.S.$1,000,000,000 (1 Billion US Dollars) EMTN Programme, aiming to meet funding requirements and general corporate purposes.
RBL Bank Secures Funding Through Senior Notes
RBL Bank Limited has successfully approved and allocated U.S.$350,000,000 worth of Senior Unsecured Notes. These notes are part of the bank’s broader U.S.$1,000,000,000 Euro Medium Term Note (EMTN) Programme, established under Regulation S of the U.S. Securities Act of 1933. The issuance is set to mature on September 16, 2031.
Key Details of the Note Issuance
The newly approved notes carry a fixed coupon rate of 5.791% per annum. The allotment date for these notes is September 16, 2026. The principal amount is scheduled for redemption at par via a bullet payment on the maturity date. The proceeds from this issuance are intended to meet the funding needs of RBL Bank’s GIFT City International Banking Unit and for general corporate purposes.
Listing and Ratings
The Senior Unsecured Notes are proposed to be listed on the India International Exchange (IFSC) Limited and NSE IFSC Limited. The notes have received a rating of Baa2 (Stable) from Moody’s and BBB+ (Stable) from CareEdge Global, reflecting the bank’s creditworthiness.
Source: BSE
