Yes Bank, one of the leading private sector banks, has successfully raised equivalent of USD 422 million by way of dual currency multi-tenor syndicated loan facility. The said facility shall be utilized for general corporate purpose.

The facility has a maturity of 1, 2 and 3 years. The loan has been widely distributed with commitments being received from 21 banks, representing 14 countries across the US, Europe, Africa, Middle East, Japan, Taiwan & Autralia with larger commitment coming in the 2 & 3 year tranches.

On the successful completion of the transaction, Rana Kapoor, managing director & CEO Yes Bank said, ''This is a significant commitment from global banks, reinforcing our differentiated business and financial model as well as reflecting faith and trust reposed in Yes Bank. We are particularly pleased to received commitments from such a diverse group of banks globally and simultaneously being able to elongate the tenure on our loan at competitive pricing.''

Shares of the bank gained Rs 14.5, or 2.42%, to trade at Rs 612.50. The total volume of shares traded was 252,534 at the BSE (3.32 p.m., Monday).