RBL Bank has announced the approval of pricing, tenure, and other terms for its US $1,000,000,000 (USD one billion) Euro Medium Term Note Programme. This initiative, established under Regulation S of the U.S. Securities Act 1933, marks a significant step in the bank’s funding strategy. The details of the senior notes to be issued are outlined in an annexure, including the coupon rate and maturity dates. This move aims to strengthen the bank’s financial resources and support its business objectives.
RBL Bank Finalizes Terms for USD 1 Billion Note Programme
RBL Bank has officially approved the pricing, tenure, and other key terms for its US $1,000,000,000 (USD one billion) Euro Medium Term Note (EMTN) Programme. This announcement follows a prior intimation regarding the establishment of the programme. The approval was granted on September 9, 2026, signifying a crucial step in the bank’s capital-raising activities.
Key Details of the Senior Notes
The senior notes are being issued under Regulation S of the U.S. Securities Act 1933. Key details regarding these notes are provided in an accompanying annexure. The instrument is classified as Senior Unsecured Notes. The expected ratings for these notes are Baa2 (stable) by Moody’s and BBB+ (Stable) by CareEdge Global.
Use of Proceeds and Issue Size
The net proceeds from this issuance will be utilized to meet the funding requirements of RBL Bank’s GIFT City International Banking Unit, to develop and expand business operations within this unit, and for general corporate purposes. The total size of the issue is specified as US$ 350,000,000, representing 5.791% fixed rate senior unsecured notes due 2031.
Tenure and Coupon Details
The tenure of the instrument is 5 years, with an expected allotment date of September 16, 2026, and a maturity date of September 16, 2031. The coupon interest offered is 5.791%, with payments scheduled for March 16 and September 16 each year. Principal redemption will be a bullet payment on the maturity date.
Listing and Denominations
The notes will be listed on the India International Exchange IFSC Limited and NSE IFSC Limited. Specified denominations for the notes include U.S.$200,000 and integral multiples of U.S.$1,000 thereafter.
Information Disclosure
In compliance with regulatory requirements, information regarding this issuance is being hosted on the Bank’s website at www.rbl.bank.in.
Source: BSE
