YES Bank raises Rs 554 cr in Basel-III bonds
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YES Bank has completed the placement of Rs 554 crore of Basel-III compliant Tier-II bonds at a coupon rate of 9.15 per cent with a tenor of 10 years.
The issue closed on June 29 and the bank said it witnessed strong demand from investors, including insurance companies and pension and provident funds, resulting in a total subscription. The management said the capital had been raised to augment the bank's capital base and to employ it for growth.
With this, the bank's total capital funds base is Rs 16,700 crore. Before this, the bank had raised green infrastructure bonds for Rs 1,000 crore in February this year.
Apart from this, YES Bank has also raised $1.2 billion funds in the previous financial year.
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