RBL Bank clears $1 billion overseas debt issuance programme

RBL Bank has received board approval for a $1 billion Euro Medium-Term Note (EMTN) programme, enabling the private lender to access international debt capital markets for raising funds in foreign currency.

Under the approved framework, the bank may issue bonds, notes and other permitted debt securities through one or more transactions, with the timing and structure dependent on prevailing market conditions and the bank's funding requirements.

The EMTN programme provides RBL Bank with greater flexibility in its overseas borrowing strategy, allowing the lender to tap global capital markets at opportune moments. Such programmes are typically used by Indian banks and financial institutions to diversify their funding sources and manage their liability profiles.

The $1 billion limit represents the maximum amount the bank is authorised to raise under this umbrella facility. Actual issuances will be announced separately as the bank decides to utilise the programme, with details on size, tenor, pricing and other terms to be disclosed at that time.

RBL Bank, which has grown rapidly since its establishment in 2015, joins other Indian private sector banks in establishing international debt issuance platforms to strengthen their capital base and support business expansion.