RBL Bank set for debut dollar debt sale, eyes 5-year funding, bankers say
- RBL Bank plans to raise approximately $500 million with its first-ever U.S. dollar bond issue, marking a significant step into international markets
MUMBAI: India’s RBL Bank aims to raise funds through its debut U.S. dollar-denominated bond sale, and has started marketing a five-year issue, three bankers said on Wednesday.
RBL Bank is likely to raise around $500 million through its debut dollar bond issue.
The private-sector lender has provided initial price guidance of U.S. Treasuries plus a spread of 150 basis points.
The bank did not reply to a Reuters email seeking comment.
The final pricing could see a contraction of 25 basis points to 30 basis points, the bankers said, requesting anonymity as they are not authorised to speak to the media.
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RBL Bank, which is selling the bonds under its $1 billion medium-term note programme, is majority owned by Dubai-based Emirates NBD.
The notes will be issued through its GIFT City branch and will be rated “Baa2” by Moody’s and “BBB-plus” by CareEdge, in line with the issuer’s ratings.
Other state-run lenders, Bank of Maharashtra and Canara Bank, are also looking to issue dollar bonds under the central bank’s concessional swap facility before the end of September.
Indian banks have raised $13 billion through sale of dollar bonds so far in 2026.