Yes Bank inks pact with LSE for green funds

Mumbai: Yes Bank on Friday said it has signed a pact with the London Stock Exchange (LSE) for bonds and equity issuance with focus on green infrastructure finance, under which it plans to list up to USD 500 million green bond on the bourse by December next year.

The private sector lender also said it may use the agreement to raise equity capital through a global depository receipt listing on the LSE.

The two proposals are part of the bank’s overall USD 1 billion of equity capital raising plans.

The agreement is part of the engagements that visiting Prime Minister Narendra Modi has in London.

Meanwhile, leading British lender Standard Chartered, the largest foreign bank in terms of branch presence, said it has entered into an agreement with the British government for a new financial services leadership programme, to help Modi’s skilling initiative.

The Standard Chartered-Chevening Financial Services Leadership Programme for India seeks to support the ambitious ’Skill India’ initiative, the bank said in a statement.

Under this, StanC and British government would award Chevening scholarships to high flying Indian professionals from private and public sectors, including regulators, civil servants and academics, who have the potential to become leaders in their field.

Those selected would study at leading British universities for three months, job-shadow senior professionals in leading London-based companies, meet with regulators and government officials and participate in the prestigious Chevening alumni programmes after returning to India.

The first eight scholars would be enrolled in the programme in September, 2016.