Deutsche Bank has been named as sponsored depositary bank for the capital raising Level III NYSE-listed American Depositary Receipt (ADR) programme of Yirendai Ltd.
Shrinath Bolloju, Head of Institutional Cash & Securities Services, Asia Pacific, at Deutsche Bank, expressed the customary delight at winning the mandate, and said that the bank’s broad range of customised services will be used to assist Yirendai to optimise the visibility of the programme with the investor community.
Yirendai is an online consumer finance marketplace in China connecting investors and individual borrowers which facilitated RMB8,748.3 million in loans from inception in March 2012 to September 30, 2015. Its borrowers and investors come from a variety of channels, including online sources, such as the internet and its mobile applications, as well as the offline on-the-ground sales network referrals from its parent company, CreditEase.
Deutsche Bank’s Depositary Receipts team is part of the Issuer Services business within the Bank’s Institutional Cash & Securities Services unit.