August 19, 2009

YES Bank, India's new age private sector bank, recently announced the financial closure of Rs 500 crore project finance for Medanta — the Medicity super specialty tertiary care hospital (Global Health Private Limited), promoted by the noted cardiac surgeon Dr Naresh Trehan.

YES Bank was appointed as the sole underwriter and mandated lead arranger for Rs 500 crore of debt. After a highly successful and expeditious syndication spearheaded by the syndication team at YES Bank, four leading PSU banks in addition to YES Bank have participated —Allahabad Bank, Dena Bank, Punjab & Sind Bank and State Bank of Hyderabad. The syndication process was completed within 60 days of its launch.