RBL Bank joins larger Indian peers with dollar bond sale

RBL Bank

10/09/2026 03:40

By Dharamraj Dhutia
MUMBAI, Sept 10 (Reuters) - India's RBL Bank RATB.NS has accepted bids worth $350 million at its maiden U.S. dollar-denominated bond issue, three bankers said on Thursday. 
Here are a few details: 
The private lender is majority owned by Dubai-based Emirates NBD ENBD.DU
The bonds have been issued at a coupon that was 30 basis points lower than the initial price guidance of U.S. Treasuries plus a spread of 150 basis points, the bankers said
The coupon has been set at 5.7910%, payable on a semi-annual basis
The issue, which saw bids worth $2.2 billion, will be settled on September 16
RBL Bank sold the bonds under its $1 billion medium-term note programme
The notes will be issued through its GIFT City branch and will be rated "Baa2" by Moody's and "BBB-plus" by CareEdge
Indian banks have raised $12.5 billion through dollar bonds since June, when the central bank announced a discounted swap window 

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
 ((DharamrajLalit.Dhutia@thomsonreuters.com;))