YES Bank seeks redemption of tier-II bonds worth Rs 1,763 crore

Private sector lender YES Bank is planning for early redemption of tier II bonds of about Rs 1,763 crore. This is part of its plan to retire high-cost instruments before close of the current financial year (FY22).

The bank, in filing with the BSE, said the capital raising committee of the board approved the proposal for seeking a nod from investors for early redemption of tier II bonds. These instruments — lower and upper tier II bonds — are Basel II-compliant.

The lower tier II bonds just over Rs 1,059 crore are due for maturity between August and October 2022. The remaining