Mumbai: Mid-sized private sector lender Yes Bank today said that it has raised Rs 554 crore through a tier-II bond issue.
The 10-year bonds were raised at a coupon of 9.15 percent and saw subscription from investors including insurance firms and pension and provident funds, Yes Bank said in a statement.
"The money raised will help the fifth largest among the private sector lenders capture growth opportunities," Yes Bank CEO and managing director Rana Kapoor said.
With this round of capital raising, the total funds base for the city-based bank has crossed Rs 16,700 crore, it added.
The issue of the Basel III-compliant bonds was rated AA+ by both ICRA and Care Ratings, it said, adding the bonds will be listed on BSE.
The bank had raised USD 1.2 billion through various instruments last fiscal and the last issue was the country's first green infrastructure bond issue of Rs 1,000 crore in February.
At its Annual General Meeting last month, the bank had received shareholders' nod to raise up to USD 1 billion in core equity and is hoping to raise the money through a maiden ADR issue.
