Yes Bank sets up Medium Term Note programme to raise $1 billion

By: |
New Delhi | Published: December 23, 2017 4:08:03 PM

Private sector lender Yes Bank today said it has established a Medium Term Note programme to raise $1 billion (over 6,400 crore) by issuing debt securities on private placement basis.

yes bank, yes bank fund raising programme, yes bank medium term note programme, mtn programme yes bankThe bank can raise money, in Indian or foreign currency through various means, including issuance of debt securities such as non-convertible debentures, MTNs, tier I/II bonds, as well as long-term infrastructure bonds.

Private sector lender Yes Bank today said it has established a Medium Term Note programme to raise $1 billion (over 6,400 crore) by issuing debt securities on private placement basis. “…The Bank has, on December 22, 2017, established a Medium Term Note programme for an amount of $1 billion, in order to enable the bank to issue debt instruments in the international capital markets, to eligible investors, from time to time, in one or more tranches and/or series,” Yes Bank said in a regulatory filing. On November 29, the Capital Raising Committee of the board of the bank had approved its proposal to set up the MTN programme.

The bank can raise money, in Indian or foreign currency through various means, including issuance of debt securities such as non-convertible debentures, MTNs, tier I/II bonds, as well as long-term infrastructure bonds.

As per the approval from its board of directors and shareholders, the bank has permission to raise funds up to Rs 20,000 crore in one or more tranches on private placement basis from time to time.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Swift action! Modi government, RBI scotch rumours of the closure of any Public Sector Bank
2Banks lost nearly Rs 17K crore to frauds last fiscal, says finance ministry
3No question of closing down any public sector bank, says government, RBI