The London Stock Exchange Group (LSEG) has entered into a memorandum of understanding (MoU) with India’s YES Bank to work together on bond and equity issuance, with focus on developing green infrastructure finance.
Under the agreement, the bank has unveiled plans to list up to $500m green bond on the LSE by December 2016.
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The bank is also seeking to raise further capital in London, potentially through the listing of GDRs (global depository receipts), as part of its plans to raise $1bn of equity capital.
The pact was signed by Nikhil Rathi, CEO, LSE and Rana Kapoor, founder, managing director & CEO of YES Bank.
Rathi said: "The London Stock Exchange is a natural partner for YES BANK in these significant debt and equity issuances. YES BANK is a leader in sustainable finance in India. We are honoured to welcome Mr. Rana Kapoor and his team from YES BANK to sign this important Agreement which demonstrates our commitment to supporting the raising of green capital for India."
Kapoor said: "YES BANK will endeavour to improve the access to long term overseas funds for corporate in India, through capital markets in the UK particularly towards Green Infrastructure Financing, which is high on India’s agenda.
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By GlobalData"We also look forward to working with the LSE in establishing London as the leading centre for rupee denominated offshore capital raising."
