RBL Bank’s board has approved raising up to USD 1 billion from foreign investors through a Euro Medium Term Note (EMTN) programme. The bank’s borrowing committee will oversee all critical steps involved in the fundraising.
The decision follows Emirates NBD Bank’s acquisition of a controlling 60 percent stake in RBL Bank’s enhanced share capital, a development that the bank says affects its ownership and capital structure.
These steps may be of interest to investors and market participants as they indicate the bank’s use of international debt markets to diversify funding sources and to regulators with regard to ownership, governance and capital adequacy considerations. No further details were provided in the announcement.
