Yes Bank to raise Rs 3,000 crore from debentures
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CHENNAI: Yes Bank has told the BSE that it has received necessary board approval for raising debt to the tune of Rs 3,000 crore.
Yes Bank told the BSE on Wednesday that it would be raising Rs 3,000 crore via debentures -- that are rated, listed, non-convertible, redeemable, unsecured, basel III compliant tier-2 bonds -- after it got the go-ahead from its Capital Raising Committee.
This measure has necessary prior approval from its board and shareholders and is part of its plan to raise debt up to Rs 20,000 crore.
The bank had earlier said it would be "borrowing/raising funds in Indian/foreign currency by issue of debt securities, but not limited to non-convertible debentures, medium term notes, bonds, up to Rs 20,000 crore by the bank, in tranches via private placement basis from time to time.
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