India-based YES Bank to Raise USD 375mil via Debt Private Placement in Several Tranches
28 Sept 2016 India’s 5th largest private sector lender YES Bank (BSE: YESBANK, ISIN INE528G01019) announced the authorization of up to Rs 2,500 crore via several private placement tranches of long-term debt. The authorization equates to approximately USD 375mil. Last week, YES Bank announced a Rs 330 crore (USD 50mil) green bond issuance to Dutch Development Bank FMO)
In the most recent announcement, YES Bank will be issuing Senior Unsecured Listed Rated Redeemable Long Term Bonds in the form of debentures and additional amount up to Rs 1,500 crore with a Green Shoe Option through private placement basis.
28 Sept 2016-Among others, the bank can also float instruments such as non-convertible debentures, medium-term notes, Basel III compliant bonds, long-term infrastructure bonds or any such securities permitted by RBI to meet its funding requirements.
Earlier this week, Yes Bank had informed about raising Rs 330 crore ($50 million) by issuing a long-term green infrastructure bond to Dutch Development Bank FMO on a private placement basis.
“The bank proposes to raise funds by issuing senior unsecured listed rated redeemable long-term bonds in the form of debentures amounting to Rs 1,000 crore, with a green shoe option for an additional amount up to Rs 1,500 crore on a private placement basis,” it said in a regulatory filing.
The bank has already received approvals from the board of directors and shareholders to borrow or raise funds up to Rs 10,000 crore in Indian or foreign currency by issue of debt securities and through various other instruments.
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Earlier this week, Yes Bank had informed about raising Rs 330 crore ($50 million) by issuing a long-term “green bond” to Dutch Development Bank FMO on a private placement basis.
To read the entire story YES Bank Says Yes to USD 375mil Capital Raise via Private Placement, via Business Standard, click here