YES Bank is likely to extend financial assistance of Rs 500 crore for Medanta - the Medicity Super specialty Tertiary Care Hospital in Gurgaon, Delhi.
YES Bank is appointed as the sole underwriter and mandated lead arranger for the proposed debt. The other five banks are Allahabad Bank, Dena Bank, Punjab & Sind Bank and State Bank of Hyderabad.
The project envisages construction of a 1,250 bed facility in Gurgaon at a total cost of Rs 932 crore to be funded at a debt - equity ratio of 1:10. The hospital is expected to commence operations from 1 October 2009.
Source : ProjectsToday
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