Yes Bank and Peers Withdraw Dollar Debt Plans
Yes Bank and two other Indian lenders have shelved plans to raise dollar debt. Investors demanded higher yields amid a sudden rush of supply. The borrowing window closes soon.
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YES BANK LTD withdrew a $500M dollar debt plan on Tuesday after investors demanded higher yields amid a wave of supply from lenders in India. The cancellation reflects surging borrowing costs as banks rush to fund discounted dollar deposits before an August 31 hedging deadline. Japan-backed Yes Bank joins two peers in shelving foreign bond issues.
