Yes Bank Ltd. is returning to the bond market for the first time since the Indian private lender wrote off a risky local note in 2020, and has hired arrangers for a dollar issuance, according to people familiar with the matter.
The bank plans to sell a benchmark-sized three-year US currency note and is holding calls with fixed-income investors starting Monday, said the people who asked not to be identified because the information is private. The proposed sale comes at a time when other Indian lenders have raised $5.27 billion in two months, spurred by the Reserve Bank of India’s measures in June to boost capital inflows to support the rupee.
