RBL Bank raises $350 million in debut international bond at 5.79%
Business
RBL Bank just pulled off its debut international bond sale, raising $350 million.
The bonds were priced at 5.79% (a bit lower than expected), and investor demand was huge, with bids topping $2.2 billion.
RBL Bank to expand GIFT City
Most of the buyers were long-term players like insurance and pension funds, showing strong trust in the bank.
RBL plans to use the money to grow its GIFT City branch and pay off short-term loans, helping balance its finances.
Plus, ever since Emirates NBD bought a 60% stake in June (the largest foreign direct investment in an Indian bank at the time), RBL's credit profile has looked even stronger.