YES BANK becomes 1 st to establish MTN Programme on Global Securities Market of India International Exchange at IFSC in India
Ahmedabad : BSE’s India International Exchange (“India INX”) has welcomed YES Bank Limited, as the first to establish a Medium Term Notes (“MTN”) Programme on its Global Securities Market (“GSM”), India’s first capital raising platform for international investors in any currency, located at the Gujarat International Finance Tec City (“GIFT City”) IFSC.
Global Securities Market ‘went live on December 08, 2017 after receiving approval from Securities and Exchange Board of India and publication of debt listing framework by India INX. It is the latest addition to India INX’s existing derivatives platform which offers a single derivatives segment to trade across asset class, viz.; currency, commodity, equity and index derivatives. India INX’s derivative segment has done a cumulative trading turnover of more than USD 10 Billion till date, with daily trading value crossing USD 300 million recently.
YES BANK’s USD 1 Billion MTN Programme marks a major milestone in India’s IFSC mission at the GIFT City and is also YES BANK’s 1 st MTN Programme.
Raising of funds from global investors through IFSC has been long discussed in India and is aligned to Hon’ ble Prime Minister of India, Shri Narendra Modi’s vision that he laid out during inauguration of India INX i.e. to make financial markets at IFSC competitive with global IFCs.
YES BANK has continued its leadership at GIFT City IFSC as the 1 st IBU to have started operations in October 2015. YES BANK’s IBU is also the largest at the GIFT City with a book size of over USD 1.4 Billion as of September 30, 2017.