Yes Bank plans to issue bonds worth Rs3,042 crore
MUMBAI: Lending major Yes Bank plans to issue bonds worth Rs3,042 crore. According to a BSE filing by the company, the decision was taken by Yes Bank Board’s Capital Raising Committee on Friday.
The capital raising committee of the board of the bank Friday approved issuing 30,420 rated listed non-convertible redeemable unsecured Basel-iii compliant tier II bonds of Rs10 lakh each aggregating to Rs 3,042 crore, Yes Bank said in a regulatory filing.
The bonds have been rated AAA and AA+ with stable outlook by Care Ratings and Ind-ra, which means they carry the highest degree of safety on timely servicing of financial obligations.