(Bloomberg) -- Lenders plan to bring a yen-denominated loan taken out by Bank of India to the broader syndication market next month, the latest deal by an Indian borrower in the Japanese currency.

Billionaire Mukesh Ambani’s Reliance Industries Ltd., power project financier REC Ltd. and Tata Semiconductor Manufacturing Pvt. have in recent months also tapped the yen loan market, which offers borrowers some of the lowest rates in the world.

The size of state-owned Bank of India’s syndicated loan is ¥15 billion ($99.6 million) or the equivalent of $100 million, according to people familiar with the matter who asked not to be identified discussing private matters.

The deal comes amid a resurgence of investor interest in Indian assets, with the Asian nation’s bonds posting strong monthly inflows and stocks bouncing back from a trillion dollar selloff. Improving economic indicators, liquidity injections by the central bank, and bets on an interest rate cut next month have all helped boost investor confidence.

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The yen deal comes hot on the heels of Bank of India’s first dollar syndicated loan in over a decade. The lender raised $400 million in that transaction, drawing a total of 22 lenders including arrangers CTBC Bank Co. and Standard Chartered Plc, people familiar with the matter said earlier this month.

The five-year yen deal will go to broader syndication with an interest margin of 63 basis points over the Tokyo overnight average rate, a benchmark for yen-denominated deals, the people said.

Bank of India said in a filing earlier this week that it expected to receive the funds March 27 and plans to use the proceeds for lending and general corporate purposes at overseas branches.