Mid-sized private sector lender Yes Bank on Wednesday said that it has raised Rs554 crore through a tier-II bond issue. The 10-year bonds were raised at a coupon of 9.15 per cent and saw subscription from investors including insurance firms and pension and provident funds, Yes Bank said in a statement.
“The money raised will help the fifth largest among the private sector lenders capture growth opportunities,” Yes Bank CEO and managing director Rana Kapoor said.
With this round of capital raising, the total funds base for the city-based bank has crossed Rs6,700 crore, it added. The issue of the Basel III-compliant bonds was rated AA+ by both ICRA and Care Ratings, it said, adding the bonds will be listed on BSE.
The bank had raised $1.2 billion through various instruments last fiscal and the last issue was the country's first green infrastructure bond issue of Rs1,000 crore in February.