RBL bank raises $100 mn from Americas Development Bank as unsecured debt

RBL Bank said on Tuesday that its maiden sale of Basel III-compliant unsecured and subordinated tier 2 bonds raised USD 100 million (about Rs 770 crore).

RBL Bank said in a statement that the tier 2 bond issuance increased the bank’s total Capital Adequacy Ratio to 17.85 percent.

It said the bonds were issued to the United States International Development Finance Corporation (DFC), America’s development finance organisation, with a tenor of 117 months.

Debt funding, equity investments, feasibility studies, investment funds, political risk insurance, and technical help are all available through DFC.

According to the bank, the investment will strengthen its capital position as it tries to grow its global reach and expand in its chosen areas.

The environment, human rights, and worker rights are all respected by DFC investments. This is DFC’s first tier 2 bond investment in India, according to the company.