July 09, 2009

YES Bank has announced the Financial Closure of an Rs5bn Project Finance for Medanta - the Medicity Super specialty Tertiary Care Hospital, promoted by the noted cardiac surgeon, Dr. Naresh Trehan. YES Bank was appointed as the Sole Underwriter and Mandated Lead Arranger for Rs5bn of debt. After a syndication spearheaded by the syndication team at YES Bank.

4 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. The project envisages construction of a 1250 bed facility in Gurgaon at a total cost of Rs9.32bn to be funded at a debt - equity ratio of 1.10. The hospital is at an advanced stage of completion, expected to commence operations from October 1, 2009.