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Yes Bank of India to raise $400m in loans from Japan, Taiwan institutions

Money would be used for lending in special zone in western India

MUMBAI -- An Indian commercial bank will raise $400 million intended for lending tied to a special economic zone in the western state of Gujarat, obtaining syndicated loans from banking groups based in Japan and Taiwan.

Yes Bank of India will borrow $150 million in a so-called samurai loan for the first time. Such loans are extended in yen, so the borrower must exchange the money into local currency to use it and convert it back to the yen to repay.

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