RBL Bank Establishes USD 1 Billion EMTN Programme; Overseas Funding Route Opens

RBL Bank Limited has established a USD 1 billion Euro Medium Term Note (EMTN) Programme, creating a framework for future overseas debt issuances. The bank has also submitted the offering circular to India International Exchange (IFSC) Limited.

The move follows the board’s approval on 7 September 2026 to establish the EMTN Programme and allow the issuance of foreign-currency bonds, notes or other debt securities of up to USD 1 billion through one or more transactions.

As of 10:42 am on 8 September 2026, RBL Bank shares were trading at ₹415.50, up 0.12% from the previous close on the National Stock Exchange (NSE). The stock opened at ₹413 and touched a high of ₹416.90 during the early trade.

RBL Bank Lays Groundwork For Overseas Debt Issuance

The programme document is titled “U.S.$1,000,000,000 Medium Term Note Programme”. RBL Bank has also stated that the relevant information is being hosted on its website in compliance with Regulation 46(2) of the Securities and Exchange Board of India (SEBI) Listing Regulations.

The bank’s Borrowing Committee has been authorised to take the necessary steps related to the EMTN Programme and the issuance of securities.

RBL Bank Gets ₹26,000 Crore Capital Infusion From Emirates NBD

The EMTN initiative follows Emirates NBD Bank’s acquisition of a majority stake in RBL Bank through a primary capital infusion of approximately USD 2.75 billion, equivalent to around ₹26,000 crore.

The transaction was completed through a preferential issue of shares, following which Emirates NBD acquired 60% of RBL Bank’s expanded share capital. The acquisition was also followed by a mandatory open offer to RBL Bank’s public shareholders.

The transaction was described as the largest foreign direct investment in India’s banking sector, the largest equity fundraise in the Indian banking sector and one of the largest fundraises through a preferential issue by an Indian listed company.

It also marked the first acquisition of a majority interest in a profitable Indian bank by a foreign bank.

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