Yes Bank awaits board approval to raise up to Rs 20K crore

New Delhi: Private sector lender Yes Bank today said the capital raising committee of the bank will take up the proposal this week to raise up to Rs 20,000 crore by issuing bonds.

The bank said the bonds of various nature can be issued both in Indian or foreign currency.

"The capital raising committee of the board would consider the proposal to raise funds by issuing debt securities on private placement basis, including the term of the issue in the nature of Basel III tier-II bonds on or after September 29," the bank said in a regulatory filing.

Further, Yes Bank said it has necessary approvals from the board of directors and shareholders to borrow/raise funds in India/foreign currency up to Rs 20,000 crore via debt securities, including but not limited to non-convertible debentures.

Among the types of instruments, the bank may issue medium term notes (a form on debt securities), bonds (including bonds forming part of tier-I/II capital as per Basel III capital norms), as well as long-term infrastructure bonds or any other securities that are allowed to be raised.

Without giving any time-frame, Yes Bank said the money will be raised in one or more tranches through private placement.

Stock of the bank today closed 0.22 percent up at Rs 360.35 on BSE today.