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| Yes Bank raises Rs 665 crore from bond issues |
| BS Reporter / Mumbai Aug 17, 2010, 00:18 IST |
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Private sector lender Yes Bank on Monday said it had raised Rs 665 crore of capital through two bond issues. The bank raised Rs 225-crore of perpetual Tier-I capital.
The capital was raised through a private placement issue of unsecured, non-convertible subordinated bonds in the form of promissory notes.
The issue was over-subscribed by leading public sector banks, pension funds and corporate, the bank said in a statement. Another Rs 440-crore of Upper Tier-II subordinated debt was placed with the Life Insurance Corporation (LIC).
This placement has a tenor of 15 years. LIC’s total holding of Yes Bank’s subordinated debt (upper and lower Tier-II) aggregates to Rs 1,110 crore in addition to their consolidated equity holding of 3.06 per cent in the bank.
 Rana Kapoor, Yes Bank’s managing director and CEO said, “This capital-raising initiative is another step towards augmenting our next phase of growth — Version 2.0, which is clearly the most stimulating phase in the life-cycle of Yes Bank.”
With this, Yes Bank’s total capital funds have gone up to around Rs 6,000 crore.
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