Yes Bank plans to raise Rs 2,500cr via long-term bonds

New Delhi, Sep 29: Private sector lender Yes Bank plans to raise up to Rs 2,500 crore by issuing long-term bonds 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.

Yes bank said Rs 10,000 crore could be raised in one or more tranches on private placement basis from time to time.

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 (USD 50 million) by issuing a long-term green infrastructure bond to Dutch Development Bank FMO on a private placement basis.

Stock of Yes Bank traded 3.15 per cent down at Rs 1,228.50 on BSE.