RBL Bank’s board has approved the establishment of a Euro Medium Term Note (EMTN) programme that would allow the private lender to raise up to $1 billion through foreign-currency debt instruments. The bank says the programme is created under Regulation S of the U.S. Securities Act of 1933, subject to regulatory, statutory and other approvals.
The outlets report that the fundraising can take place in one or more transactions in the future, depending on market conditions and compliance with applicable rules. The bank’s disclosure focuses on creating the flexible platform to access international debt markets, but does not specify timing, pricing, tenures, currency mix, or the intended use of the borrowings. One report also notes the board clarifies the securities will not be offered or sold to investors in India.
The presentation differs mainly in detail: one outlet highlights the delegation to the borrowing committee and the non-India offering clarification, while the other focuses on the board approval and the regulatory framework for the EMTN programme. In both accounts, the decision enables overseas fundraising but does not indicate that the full amount will be raised immediately.
