Yes Bank raises Rs 364-cr from Rabobank

Written by Agencies | Mumbai, June 30: | Updated: Jun 30 2008, 17:40pm hrs
Yes Bank, on Monday said that it has successfully raised Rs 364 crore(USD 85-million)from Rabobank.

The amount has been raised in a combination of upper tier-II sub-ordinated debt and hybrid tier-I capital, a press release issued in Mumbai stated.

The quantum of the upper Tier-II private placement issuance of unsecured, redeemable, non-convertible, sub-ordinated bonds was Rs 343 crore with a tenor of 15-years.

The bank has also raised Rs 21 crore hybrid tier-I capital.

"This is a successful demonstration of Yes Bank's ability to raise significant long-term capital in currently adverse market conditions," the bank's Managing Director & CEO, Rana Kapoor said in the release.

"The capital injection further reinforces the financial soundness and stability of Yes Bank. We at Yes Bank will periodically augment our capital base to fund our expansion plans," Kapoor added.